Acquiring Corporation transfers 5,000 shares of its stock worth $300,000 and land worth $50,000 (basis to Acquiring $30,000) for all of the assets of Target Corporation. The stock and land is distributed to Kim, Target's sole shareholder, in exchange for all of his stock in Target. Kim's basis in his stock is $380,000. Which is the recognized gains or losses on this reorganization? (Points : 2)

a. No gain or loss is recognized in reorganization.

b. Acquiring gain recognized is $20,000.

c. Kim's loss recognized is $30,000.

d. Both B and C

e. None of the above