Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns 60 shares with a basis of $7,500, and Clyde owns the remaining 40 shares with a basis of $15,500. At year-end, Getaway is considering different alternatives for redeeming some shares of stock. (Round your answers to the nearest whole number. Leave no answer blank. Enter zero if applicable.) Required:

A.Getaway redeems 17 of Bonnies shares for $5,500. Getaway has $27,000 of E&P at year-end and Bonnie is unrelated to Clyde.

Req A.

Bonnie owns 60% before the redemption and ____ % after the redemption

Does this qualify as a sale or a exchange? _______ If so, how much is the gain? ________

B.Getaway redeems 32 of Bonnies shares for $11,000. Getaway has $27,000 of E&P at year-end and Bonnie is unrelated to Clyde.

Req B.

Bonnie owns 60% before the redemption, _____% after the redemption

Does this qualify as a sale or a exchange? ______ If so, how much is the gain? ___________

C.Getaway redeems 5 of Clydes shares for $6,000. Getaway has $27,000 of E&P at year-end and Clyde is unrelated to Bonnie.

Req C.

Clyde owns 40% before the redemption and ______ % after the redemption

Does this qualify as a sale or a exchange? ______ If so, how much is the gain? ___________