Tim owns 51% and Claire owns 49% of Colorado Corporations stock. Tim and Claire are unrelated. One year before the complete liquidation of Colorado Corporation, Tim transfers land (basis of $200,000, fair market value of $130,000) to Colorado Corporation as a 351 contribution. Assume that Tim also contributed other property in the same transaction having a basis of $20,000 and fair market value of $100,000. In liquidation, Colorado distributes the land to Claire. At the time of the liquidation, the land is worth $110,000. How much loss, if any, will Colorado Corporation recognize with respect to the distribution of the land? Explain and show calculations