Question 11 (4 points) z, a foreign corporation, owns 100% of X corp., a Delaware corporation. X distributes to Z its 8% note (.e., a note payable from X to Z). This note will typically be treated as debt for tax purposes, True False Question 12 (4 points) A and C are both common shareholders of X corporation, a corporation with earnings and profits. They each receive a distribution of X common stock from X. This distribution does not result in taxable income to either A or B, TRUE or FALSE? True False Question 13 (4 points) Same as above except that B owns only preferred stock before and they both receive common shares in distribution). B does not have a taxable distribution, True False