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Question - Julie owns 700 shares (70%) of Brandon Corporation (the remaining shares are owned by unrelated individuals). Julie paid $150/share for those shares 15 years ago. Brandon's E&P is $1,000,000. What are the tax consequences of the following?
a. Brandon redeems 350 shares of Julie's stock for $200,000.
b. Brandon redeems 450 shares of Julie's stock for $275,000.
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