Cowboy corporation owns 90% of the single class of stock in doggie corporation. the other 10% is owned by miguel, an individual. cowboy's basis in its doggie corporation stock is $100,000 and miguel's basis is $50,000. doggie corporation distributes property having an adjusted basis of $150,000 and an fmv of $500,000 to cowboy corporation, and $60,000 of money to miguel as a liquidating distribution. doggie and cowboy corporations must recognize gain of