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What are the tax consequences to Viking

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Question - Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 125 shares in the company. Viking redeemed 80 shares of Sven's stock for $1,600 per share on December 31, 20X3. Viking has total E&P of $420,000. What are the tax consequences to Viking because of the stock redemption?

Reference no: EM132544287

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