Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns 60 shares with a basis of $2,600, and Clyde owns the remaining 40 shares with a basis of $14,500. At year-end, Getaway is considering different alternatives for redeeming some shares of stock. Evaluate whether each of the following stock redemption transactions will qualify for sale and exchange treatment.

Required:

1. Getaway redeems 10 of Bonnies shares for $4,500. Getaway has $25,000 of E&P at year-end and Bonnie is unrelated to Clyde.
2. Getaway redeems 28 of Bonnies shares for $9,000. Getaway has $25,000 of E&P at year-end and Bonnie is unrelated to Clyde.
3. Getaway redeems 7 of Clydes shares for $5,000. Getaway has $25,000 of E&P at year-end and Clyde is unrelated to Bonnie.