6 Required Information The following Information applies to the questions displayed belowJ Part 3 of 3 Flintstone Company is owned equally by Fred Stone and his sister Wilma, each of whom hold 1.800 shares In the company. Wilma wants to reduce her ownershlp In the company, and It was declded that the company will redeem 460 of her shares for $29,900 per share on December 31 of this year. Wlmas Income tax basis In each share is $8,300. Flintstone has current E&P of $10.620,000 and accumulated E&P of $50.040,000 0.5 points C. Assuming the company did not make any dividend distrlbutions this year, by what amount does Flintstone reduce Its E&P as a result of the redemptlon? eBook Print in