Swift corporation distributes land( basis of 55,000$ and fair market value of 120,000 $ to Sam and cash (240,000) to Allison in exchange for part of their stock. Other shareholders do not redeem any part of their stock. Sam surrenders shares of stock that have a basis of 25,000$. Prior to stock redemption, Sam owned 20% of the Swift Stock, and after the redemption he ownes 15%. At the same time swift distributes cash to Allison, and she surrenders a shares of stock with a basis of 40,000$. Prior to the stock redemption Allison owned 70 % of the swift stock, and after te redemption, she owned 60%.Determine the tax consequence to Swift:

1) C Corporation

2) S corporation