on january 4 2016 martin corporation acquires two properties from a shareholder in a transacti/

Martin adopts a plan of liquidation later in the year and distributes Property 2 to a 30% shareholder when the property is worth $350,000.
a. Compute Martin’s basis in Property 1 and in Property 2 as of January 4, 2016.
b. Compute Martin’s realized and recognized loss on the liquidating distribution of Property 2.