After 10 years of existence, AJI has the following capital structure: Common Stock (CS) FMV Peter Gordon Preferred Stock (PS) Peter Gordon $160,000 $40,000 $80,000 $20,000 A/B $0 $2,000 $0 $0 Percent of Class 80% 20% 80% 20% The PS was issued to Peter and Gordon at the close of year 6 when AJI had E&P of $20,000. In the current year, AJI has AEP of $60,000 and will have CEP of $15,000. If Gordon sells the preferred stock to an unrelated third party for $20,000, what results? Should Gordon have AJI redeem his preferred shares instead?