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 twothirds by Prune. All shareholders are US resident citizen individuals. At the beginning of the current year, Raisin's basis in his shares was $111,000 and Prune's basis in her shares was $37,000. During the current year, Dried Fruit Corp. earned $666,000 of net income from operations. Raisin's share was $222,000; Prune's share was $444,000. On December 31st, Dried Fruit Corp. distributed Grapeacre (real property) having a fair market value of $222,000, and a basis of $148,000, to Raisin and Plumacre (real property) having a fair market value of $444,000 and a basis of $407,000, to Prune. How much gain does Prune recognize as a result of this transaction? $0 $74,000 $37,000 $111,000 Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation. The Eried Fruit Corp. stock is owned one-third by Raisin and twothirds by Prune. All shareholders are US resident citizen individuals. At the beginning of the current year, Raisin's basis in his shares was $51,000 and Prune's basis in her shares was $17,000. During the current year, Dried Fruit Corp. earned $306,000 of net income from operations. Raisin's share was $102,000; Prune's share was $204,000. On July 1st, Dried Fruit Corp. distributed $136,000 to Raisin and $272,000 to Prune. How much gain does Raisin recognize as a result of this transaction? $17,000 $34,000 $0 $51,000