Parent Corporation owns 80% of the outstanding single class of Subsidiary Corp. stock. The remaining 20% of the stock is owned by Fred, an individual. Parent Corp. has an adjusted basis in its Subsidiary stock of $200,000; Fred has an adjusted basis in his Subsidiary stock of $50,000. After adopting a plan of complete liquidation, Subsidiary distributes property with an A/B of $100,000 and a FMV of $600,000 pro rata to Parent and Fred. a. What gain, if any, will Subsidiary Corporation recognize on the distribution to Parent and to Fred? b. What gain, if any, will be recognized by Parent and Fred on the distribution.? c. What is Parents adjusted basis in the property received? What is Freds A/B in the property he received?