The stock of Mulberry Corporation is owned by Archana (60%) and Anar (40%), who are mother and daughter. Pursuant to a plan or complete liquidation adopted earlier in the current year, Mulberry distributes land worth $544,000 to stock). The land was purchased by Mulberry Corporation three years ago for $707,200, and it is distritbuped subject to a liability of $435,200. What amount Anar (basis of $87,040 in Mulberry of gain or loss is recognized by Mulberry Corporation and by Anar with respect to the distribution of the land? Mulbery Corporetion s a21,760x reconizedX (os on the dutributon f the an Mulberry Corporation has a Anar recognizes a loss Xof 108,800X on the liquidating distribution, and has a basis in the land of