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Corporation is owned equally by Brother and Sister, each of whom hold 100 shares in the company. Corporation redeems 50 of Sister's shares on December

Corporation is owned equally by Brother and Sister, each of whom hold 100 shares in the company. Corporation redeems 50 of Sister's shares on December 31 , year 1 , for o Corporation as a result of the stock redemption? A reduction of $50,000 in E&P as a result of the exchange. A reduction of $80,000 in E&P as a result of the exchange. A reduction of $40,000 in E&P as a result of the exchange. No reduction in E\&P as a result of the exchange

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