Arnold Corporation plans to acquire all the assets of Turner Corporation in an asset-for-stock exchange. Turners assets have a $600,000 adjusted basis and a $1 million FMV. Which of the following transactions qualify as a Type C reorganization (assuming Turner liquidates as part of the reorganization)?

a. The assets are exchanged for $800,000 of Arnold voting common stock and $200,000 of cash.

b. The assets are exchanged for $800,000 of Arnold voting common stock and $200,000 of Arnold bonds.

c. The assets are exchanged for $1 million of Arnold nonvoting preferred stock.

d. The assets are exchanged for $700,000 of Arnold voting common stock and Arnolds assumption of $300,000 of Turners liabilities.

e. The assets are exchanged for $700,000 of Arnold voting common stock, Arnolds assumption of $200,000 of Turners liabilities, and $100,000 in cash.