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MJJM Inc. has four equal shareholders who are unrelated. Each shareholder owns 300 shares of the common stock of MJJM Inc. representing all of the stock of MJJM Inc. During the taxable year, as part of a single transaction, MJJM Inc. redeemed stock from three of the shareholders. Specifically, MJJM Inc. redeemed 150 shares from Michael, 75 shares from Joseph, and 40 shares from John. Who will receive exchange treatment as a result of the redemption?
a. Michael and Joseph, as the transaction was not essentially equivalent to a dividend.b. Joseph only, because the redemption was substantially disproportionate as to Joseph.c. Michael only, because the redemption was substantially disproportionate as to Michael.d. No one, and each of Michael, John, and Joseph will receive dividend treatment.
Maximum earnings per share (EPS), Minimum cost of debt (rd), Highest bond rating, Minimum cost of equity (rs), or Minimum weight average cost of capital (WACC).
What controls should an organization like Tyco implement to ensure that such transactions do not take place in the future?
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Danni, who is single, maintains a home in which she, her 15-year old brother, and her 21-year old niece live. Danni provides the majority of the support for her brother, her niece, and her cousin, age 18, who is enrolled full-time at teh universit..
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