Ocelot Corporation Is Merging into Tiger Corporation Under State Law

Ocelot Corporation is merging into Tiger Corporation under state law requirements. Ocelot transfers assets worth $300,000 to Tiger. Ocelot receives 30,000 shares of Tiger stock and $200,000 cash. Ocelot transfers the Tiger stock, $200,000 cash, and all of its liabilities ($50,000) to its shareholder, Van, in exchange for all of his Ocelot stock (basis $100,000) . Ocelot then liquidates. How is this transaction treated for tax purposes?

A) Since this qualifies as a "Type A" reorganization, Van recognizes no gain.
B) Since this qualifies as a "Type C" reorganization, Van recognizes a $200,000 gain.
C) Since this qualifies as a "Type A" reorganization, Van recognizes a $150,000 gain.
D) Since this does not qualify as a reorganization, Van recognizes a $150,000 gain.