Question: Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation. The Dried Fruit Corp. stock is owned

Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation. The Dried Fruit Corp. stock is owned one-third by Raisin and two-thirds by Prune. All shareholders are US resident citizen individuals. At the beginning of the current year, Raisins basis in his shares was $72,000 and Prunes basis in her shares was $24,000. During the current year, Dried Fruit Corp. earned $432,000 of net income from operations. Raisins share was $144,000; Prunes share was $288,000. On December 31st, Dried Fruit Corp. distributed Grapeacre (real property) having a fair market value of $144,000, and a basis of $96,000, to Raisin and Plumacre (real property) having a fair market value of $288,000 and a basis of $264,000, to Prune. How much gain does Prune recognize as a result of this transaction?

Group of answer choices

$72,000

$24,000

$48,000

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