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Vandy Corporation, an S corporation for 5 years, distributes a tract of land held as an investment to Roger, its sole shareholder. The land was

Vandy Corporation, an S corporation for

5

years, distributes a tract of land held as an investment to Roger, its sole

shareholder. The land was purchased for $

180, 000

several years ago and is currently worth $

300, 000 .

What should be

the amount of recognized capital gain or loss for Vandy Corporation as a result of the distribution?

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