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a Dried Fruit Corp. has had a valid S Corp election in effect at all...

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a Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation. The Dried Fruit Corp. stock is owned one-third by Raisin and two- thirds by Prune. All shareholders are US resident citizen individuals. At the beginning of the current year, Raisin's basis in his shares was $18,000 and Prune's basis in her phares was $6,000. During the current year, Dried Fruit Corp. earned $108,000 of net income from operations. Raisin's share was $36,000; Prune's share was $72,000. On July 1st, Dried Fruit Corp. distributed $48,000 to Raisin and $96,000 to Prune. How much gain does Prune recognize as a result of this transaction? $12,000 $0 $18,000 O $6,000

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