[Solved] Copper Corporation (E & P of $1.2 million) distributes land (basis of $410,000, fair market value of $650,000) to Lauren, a shareholder, to carry out a qualifying stock redemption. Lauren had a basis of $90,000 in the shares redeemed. Which of the following is an incorrect statement regarding the redemption? A) If the land is distributed subject to a $500,000 liability, Copper Corporation will recognize a gain of $240,000. B) If the land is distributed subject to a $500,000 liability, Lauren will have a basis in the land of $650,000. C) If the land is distributed subject to a $500,000 liability, Lauren will recognize a gain of $60,000. D) If the land is distributed subject to a $700,000 liability, Copper Corporation will recognize a gain of $290,000. E) None of these. Erotic Plasticity: The degree to which an individual's sex drive can be changed by social, environmental, and situational factors. Fraternal Birth-Order Effect: The observation that a man is more likely to be homosexual the more older brothers he has from the same mother. Older Brothers: Typically refers to male siblings who are born before other children in a family, often associated with roles of protection, mentorship, and influence in the sibling relationship. Prenatal Development: Prenatal development refers to the process of growth and development within the womb from conception to birth.