Reference no: EM133020003
Question - Bob, Calvin and Dylan are the three equal shareholders of a small incorporated business, Dunder Mifflin, specializing in recycling paper.
The corporation has 300 shares outstanding and is valued at $3,000,000
They each own 100 shares, which are currently worth $10,000 per share and recently entered into a buy-sell agreement which says that, if any one of them dies, the company will buy their shares for their current share value as determined by the company's financial statements.
If Bob dies today, this means that the corporation will each buy the 100 shares from his estate at a price of $10,000 per share.
This is an example of a/(an).
Who owns the insurance policy on the lives of Bob, Calvin and Dylan?
Who pays the premium?
How may outstanding shares will there be after Bob's death and the buy-sell agreement process is completed?
How much money will Bob's estate receive?
How many shares will Calvin have? What will the total value? What percentage ownership will he have?
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