Barb owns all 100 shares of Branch Corporation stock having a $0.55 million FMV. Her basis in the stock is $320,000. Branch's E&P balance is $230,000. Tom would like to purchase the stock but wants only the corporation's non-cash assets valued at $450,000. Tom is willing to pay $450,000 for these assets. Read the requirements. Requirement a. What are the tax consequences to Barb, Tom, and Branch if Tom purchases 75 shares of Branch stock for $450,000 and Branch redeems Barb's remaining 25 shares for $100,000 cash? Barb will recognize She will recognize an additional of of on her sale of 75 shares of Branch Corporation stock to Tom. on the redemption of her remaining shares by Branch. Requirements a. What are the tax consequences to Barb, Tom, and Branch if Tom purchases 75 shares of Branch stock for $450,000 and Branch redeems Barb's remaining 25 shares for $100,000 cash? b. How would your answer to Part a change (if at all) if Branch first redeems 25 shares of Barb's stock for $100,000 and then Tom purchases the remaining 75 shares from Barb for $450,000? Print Done - X