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Calculate the effect on C for this redemption

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Question - A, B and C own stock of Randall Corporation (E & P $1,000,0000) as follows:

A owns 600 shares, B owns 400 shares and C owns 1000 shares. Randall redeems 500 shares of C for $300,000. C paid $1 per share several years ago.

Calculate the effect on C for this redemption?

Reference no: EM132733427

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