Market Corporation Owns 100% of Subsidiary Corporation's Stock

Multiple Choice

Market Corporation owns 100% of Subsidiary Corporation's stock. Market Corporation completely liquidates Subsidiary Corporation, receiving land with a $400,000 adjusted basis and a $500,000 FMV in exchange for Subsidiary stock, which has a $300,000 adjusted basis. Market Corporation has a basis in the land of

A) $300,000.
B) $400,000.
C) $500,000.
D) none of the above