Pansy, the parent corporation, has a basis of $540,000 in the stock of Green Corporation, a subsidiary in which it owns 90% of all classes of stock. Pansy purchased the stock in Green Corporation 10 years ago. In the current year, Pansy Corporation liquidates Green Corporation and acquires assets worth $280,000 with a tax basis to Green Corporation of $300,000. No election is made under 338. What basis will Pansy Corporation have in the assets acquired from Green Corporation?

a. $0. b. $280,000. c. $300,000. d. $540,000.