2 Required Information Problem 18-67 (LO 18-5) (Algo) [The following information applies to the questions displayed below! Aggie Corporation made a distribution of $569,000 to Rusty Cedar in partial liquidation of the company on December 31 of this year. Rusty, an individual, owns 100 shares (100 percent) of Aggle Corporation. The distribution was in exchange for 50 percent of Rusty's stock in the company. At the time of the distribution, the shares had a fair market value of $219 per share. Rusty's tax basis in the shares was $65 per share. Aggie had total E&P of $8.025.000 at the time of the distribution OK Problem 18-67 Part-a (Algo) a. What are the amount and character (capital gain or dividend) of any income or gain recognized by Rusty as a result of the partial liquidation? Capital gain per share Required Information Problem 18-67 (LO 18-5) (Algo) The following information applies to the questions displayed below! Aggle Corporation made a distribution of $569.000 to Rusty Cedar in partial liquidation of the company on December 31 of this year. Rusty, an individual owns 100 shares (100 percent of Aggle Corporation. The distribution was in exchange for 50 percent of Rusty's stock in the company. At the time of the distribution, the shares had a fair market value of $219 per share. Rusty's tax basis in the shares was $65 per share. Aggle had total ESP of $8.025.000 at the time of the distribution Problem 1867 Part-b (Algo) b. Assuming Aggie made no other distributions to Rusty during the year, by what amount does Aggle reduce its total E&P as a result of the partial liquidation? Reduction in EMP