Question - Pursuant to a complete liquidation, Woodpecker Corporation distributes the following assets to its unrelated shareholders: land held as an investment (basis of $200,000, fair market value of $310,000), inventory (basis of $160,000, fair market value of $190,000), and marketable securities (basis of $100,000, fair market value of $60,000). What are the tax results to Woodpecker Corporation as a result of the liquidation? (Woodpecker Corporation has held the land and securities for six years.)