Tiger, Inc., a calendar year S corporation , is owned equally by four 25% shareholders, Ann, Becky, Chris, and David. Tiger owns investment land that was purchased for $160,000 by the corporation four years ago. On September 14, 2022 when the land was worth $240,000, it was distributed to David. Assuming that Davids basis in the S corporation stock is $270,000 on the distribution date, calculate:

1. The total amount of gain or loss David must recognize on the distribution.

2. The amount of gain or loss that Ann must recognize from the distribution.

3. Davids ending stock basis.