Question: 3 0 . In a type C reorganization, when intercorporate debt is owed by the transferor to the transferee and extinguished as part of the

30. In a type C reorganization, when intercorporate debt is owed by the transferor to the transferee and extinguished as part of the exchange:
A The transferor recognizes gain.
B The transferee recognizes gain.
C The transferor has cancellation of indebtedness income.
D None of the above.
3 0 . In a type C reorganization, when

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