Hugh owns 90% of Quartz Corporation, and Stacy owns the other 10%. In exchange for all of the Quartz stock, Hugh receives 1,000 shares of Turquoise Corporation common stock (value $20,000), and Stacy receives 50 shares of Turquoise preferred (value $20,000). Hugh also receives $160,000 in bonds. The exchange qualifies as which type of transaction?
Type reorganization
Type B reorganization
Type C reorganization
Acquisitive Type D reorganization
A taxable exchange