The exchange qualifies as what type of transaction

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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 what type of transaction?

Reference no: EM13137356

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