Mike, an individual using the cash method, owns 100% of Twins Corporation, a C- Corporation. On January 1, 2020, Twins Corporation liquidated, distributing all its property to Mike. At the date of liquidation, Twins Corporation had net assets with an FMV of $3,200,000 and a basis of $2,200,000. Twins Corporation's earnings and profits at the date of liquidation were $2,800,000. Mike's basis in Twins Corporation stock is $1,700,000. a) (4 points) What are the tax implications of the liquidation to Twins Corporation? b) (4 points) What are the tax implications of the liquidation to Mike, assuming his marginal tax rate is 37% and his tax rate of capital gains is 23.8%? c) (4 points) How would your answer change if Mike was a C-Corporation instead of an individual