When High Horizon LLC was formed, Maude contributed the following assets in exchange for a $25$ percent capital and profits interest in the LLC:

Basis Fair Market Value

Maude:

Cash $ $20,000$ $ $20,000$

Land$*100,000360,000$

Totals $ $120,000$ $ $380,000$

$*$Nonrecourse liability secured by the land equals $$160,000.$

Hiro, Harold, and Sofiya each contributed $$220,000$ in cash for a $25$ percent profits and capital interest.

Note: Leave no answer blank. Enter zero if applicable.

a$.$ How much gain or loss will Maude and the other members recognize?