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3. Jack owns all 100 shares of Bronco Corporation stock. Jack's basis in his shares is $50,000 and Bronco's E&P is $100,000. Bronco redeems 25

3. Jack owns all 100 shares of Bronco Corporation stock. Jack's basis in his shares is $50,000 and Bronco's E&P is $100,000. Bronco redeems 25 shares of Jack's stock for $85,000. What is the conse...

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