Under a plan of complete liquidation, Key Corporation distributes land $($not a disq roperty$)$ with an adjusted basis of $$410,000$ and an FMV of $$300,000$ for all Sh: haron's basis in her $5\%$ interest in the Key stock is $$250,000.$ Find Sharon's gair y Corporation's recognized gain or loss.

Sharon Rec Gain$/$Loss $$160,000$ Corp Rec Gain$/$Loss $$110,000$ loss

Sharon Rec Gain$/$Loss $$50,000$ Corp Recognized Gain$/$Loss $$110,000$ loss

haron Rec Gain$/$Loss $$160,000$ Corp Recognized Gain$/$Loss $$0$

taron Rec Gain$/$Loss $$50,000$ Corp Recognized Gain$/$Loss $$0$