The French Corporation has assets valued at $1 million (adjusted basis of $700,000). There are mortgages of $250,000 associated with these assets. Accent Corporation acquires all of French's assets by exchanging $800,000 of its voting stock, and assumes $200,000 of French's liabilities. French distributes the Accent stock and remaining liabilities to its shareholders in exchange for their French stock, and then liquidates. Which, if any, statement is correct?

a) This restructuring qualifies as a Type A reorganization.

b) This restructuring qualifies as a Type C reorganization.

c) The restructuring is taxable because liabilities cannot be distributed to shareholders in a tax-free reorganization.

d) Accent recognizes a $50,000 gain on the restructuring.

e) None of the above