Which of the Following Statements Is Correct with Respect to the §

Which of the following statements is correct with respect to the § 338 election?

A) The subsidiary corporation must be liquidated pursuant to the § 338 election.
B) Subsidiary stock acquired by the parent corporation in a tax-free reorganization will count towards the 80% qualified stock purchase requirement.
C) The subsidiary corporation makes the § 338 election.
D) A qualified stock purchase occurs when a corporation acquires, in a taxable transaction, at least 80% of the stock (voting power and value) of another corporation within a 12-month period.
E) None of the above.