Judy owned two blocks of Burr Corp. stock which she had purchased as investments:

Judy's stock represented 30 percent of Burr Corp's outstanding stock. Pursuant to the complete liquidation of Burr Corp., Judy received a \(\$ 60,000\) cash distribution on October 20, 2018, in exchange for her 250 shares. Burr Corp's accumulated earnings and profits immediately before the liquidation totaled \(\$ 100,000\). What is the amount and character of Judy's income that must be recognized as a result of the liquidation?

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Shares 50 200 Acquired 1/2/17 11/8/17 Basis $10,000 30,000