9 Alpha Corporation (a C corporation) owns 80% of Beta Corporation (a C corporation) and Mavrick owns the remaining 20% of Beta Corporation's stock. Alpha Corporation's basis in the Beta stock is $200,000 and Mavrick's basis in the Beta stock is $100,000. Under a plan of complete liquidation, Alpha Corporation receives property with an adjusted basis of $400,000 and an FMV of $800,000 and Mavrick receives property with an adjusted basis of $50,000 and an FMV of $200,000. Alpha Corporation and Mavrick's recognized gains on the liquidation are: OA $0 for Alpha and $100,000 for Mavrick OB $0 for Alpha and $0 for Mavrick OC $600,000 for Alpha and $100,000 for Mavrick OD. $200,000 for Alpha and $50,000 for Mavrick