Pursuant to a Complete Liquidation,Woodpecker Corporation Distributes the Following Assets

Pursuant to a complete liquidation,Woodpecker Corporation distributes the following assets to its unrelated shareholders: land held as an investment (basis of $400,000,fair market value of $250,000) ,inventory (basis of $260,000,fair market value of $290,000) ,and marketable securities (basis of $100,000,fair market value of $160,000) .What are the tax results to Woodpecker Corporation as a result of the liquidation? (Woodpecker Corporation has held the land for six years and the securities for two years.)

A) Woodpecker Corporation would recognize a gain of $90,000 and a loss of $150,000.
B) Woodpecker Corporation would recognize a gain of $90,000 and a loss of $0.
C) Woodpecker Corporation would recognize a gain of $60,000 and a loss of $0.
D) Woodpecker Corporation would recognize no gain or loss on the liquidation.
E) None of the above.