Assume in Problem 28 that the land had a fair market value of $630,000 on the date of its transfer to the corporation. On the date of the liquidation, the land’s fair market value has decreased to $500,000. How would your answer to Problem 28 change if:

a. All of the land is distributed to Maria?

b. All of the land is distributed to Paul?

c. The land is distributed 85% to Maria and 15% to Paul?

d. The land is distributed 50% to Maria and 50% to Paul?

e. The land is sold and the proceeds of $500,000 are distributed proportionately to Maria and to Paul?