Curly, Larry, and Moe are the only three shareholders in a small private corporation. Curly wishes to retire, and his friend, Shemp, is willing to take his place. How will this most likely happen?

Select an answer from the options below:

Shemp will buy Curly’s shares at a price they both agree on, and the corporation will continue as before.

The corporation will formally dissolve and a new corporation will be formed with Shemp, Larry, and Moe as the shareholders.

Curly’s shares will automatically become null and void when he retires, and Shemp will have to buy new shares at a price agreeable to Larry and Moe.

Larry and Moe will purchase Curly’s shares and then resell them to Shemp at a profit.