Five shareholders each contribute $$10,000$ in exchange for a $20\%$ interest in corporate stock of FIU Corporation. Fifteen years later, FIU Corp. enters into a plan of completeliquidation. Under the plan, FIU Corporation distributes property with a FMV $$30,000$ and basis of $$50,000$ in liquidation subject to a $$100,000$ mortgage to the shareholders.What are the tax consequences to the shareholders of FIU Corporation?The shareholders would recognize an immediate capital loss in the amount of the mortgage plus their basis in the shares less the $$30,000$ fair market value of the property received.The amount realized by the shareholders upon liquidation is net of the liabilityThe net amount received by the shareholders is only $$25,000$ or $$5,000$ eachSection $165$ does not apply to the transactionSection $331$ applies to the transaction