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Cotte Inc. has three shareholders, Phil, Bill, and Hill. Each shareholder owns 100 shares of common stock. On July 1 of this year, Cotte Inc.

Cotte Inc. has three shareholders, Phil, Bill, and Hill. Each shareholder owns 100 shares of common stock. On July 1 of this year, Cotte Inc. redeemed 30 shares from each shareholder. In return, each ...

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