In the current year, Verdigris corporation(with E&P of $250,000) made the following property distributions to its shareholders(all corporations): 

Adjusted basis Fair-Market Value Black Corporation............$75,000 $60,000
stock(held for investment) 
Non-Lifo inventory...........40,000 55,000

Verdigris Corporation is not a member of a controlled group. As a result of the distribution:
a. The shareholders have dividend income of $100,000.
b. The shareholders have dividend income of $130,000.
c. Verdigris has a gain of $15,000 and a loss of $15,000, both of which it must recognize.
d. Verdigris has no recognized gain or loss.
e. None of the above.