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| Prime Corp., which had earnings and profits of $250,000, made a nonliquidating distribution of property to its shareholders as a dividend. This property, which had an adjusted basis of $25,000 and a fair market value of $10,000 at date of distribution, did not constitute assets used in the active conduct of Prime’s business. How much loss did Prime recognize as a result of this distribution? A. $0 B. $10,000 C. $25,000 D. $15,000 |