U-Pick Fruit Corp., a C Corporation, was formed many years ago as a "you pick" farm where customers can pick various types of fruits fresh from the source. Strawberry owned 500 out of 1,000 shares of common stock of U- Pick Fruit Corp. Her basis in the stock was $16,500,000. U-Pick Fruit Corp, liquidated, and in the process, after the corporation paid all of its debts, it distributed to Strawberry the following assets: . $33 million in cash, and Berryacre, a parcel of real estate previously used in its trade or business (U-Pick Fruit's adjusted basis in Berryacre was $49,500,000 and the fair market value at date of distribution was $165,000,000). . How much gain (loss) does U-Pick Fruit Corp. recognize due to these transactions? $132,000,000 $115,500,000 $148,500,000 $181,500,000