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Bob Vance (of Vance Refrigeration) acquired 250 shares of XYZ Corporation, a new startup company for $70,000.00. Bob Vance (of Vance Refrigeration) acquired the stock

Bob Vance (of Vance Refrigeration) acquired 250 shares of XYZ Corporation, a new startup company for $70,000.00. Bob Vance (of Vance Refrigeration) acquired the stock from Todd Packer. Can the stock be classified as Section 1244 stock for tax purposes? Why or why not?

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