Enter problem statement appropriate input type, and other instructions here. ABC Corporation (ABC Jowns 90% of the single class of stock in Subsidiary Corporation. The other 10% is owned by Rosie, an individual ABC's basis in its subsidiary stock is $ 200,000 and Rosie's basis is $90,000. Subsidiary distributes property A having an adjusted basis of $150,000 and an FMV of $720,000 to ABC, and property with a FMV of $80,000 and an adjusted basis of $60,000 to Rose in a liquidating distribution Subsidiary had $10 million of earnings and profits at the date of liquidation What gain or loss must Subsidiary recognize on the liquidating distribution ? OA. No gain on either Property Aor OD. $20,000 gain on Property Band 5670,000 gain on Property A OC. $20,000 gain on Property OD. $570,000 gain on Property A Enter problem statement appropriate input type, and other instructions here. ABC Corporation (ABC Jowns 90% of the single class of stock in Subsidiary Corporation. The other 10% is owned by Rosie, an individual ABC's basis in its subsidiary stock is $ 200,000 and Rosie's basis is $90,000. Subsidiary distributes property A having an adjusted basis of $150,000 and an FMV of $720,000 to ABC, and property with a FMV of $80,000 and an adjusted basis of $60,000 to Rose in a liquidating distribution Subsidiary had $10 million of earnings and profits at the date of liquidation What gain or loss must Subsidiary recognize on the liquidating distribution ? OA. No gain on either Property Aor OD. $20,000 gain on Property Band 5670,000 gain on Property A OC. $20,000 gain on Property OD. $570,000 gain on Property A