Do Homework Michael Jackstadt Google Chrome 6609&questionld 4&flushed false&old 44086888 centenwin yes ework aspx?homeworkld Secure https://www.mathxl.com Student TAX-655-X4933-17TW4 Whitley Michael Jackstadt & I 4/6/17 2:21 PM Homework: 3-2 MyAccounting Lab Homework: Module Three Save Score 0 of 4 pts HW Score: 64.78%, 25.91 of 40 pts 4 of 10 (8 complete EQuestion Help X) PC:4-57 (similar to) Jasmin owns all 100 shares of Crown Corporation stock having a $1.25 million FMV. Her basis in the stock is $410,000. Crown's E&P balance is $840.000. Peter would like to purchase the stock but wants only the corporation's non-cash assets valued at $950,000. Peter is willing to pay S950,000 for these assets. Requirements a. What are the tax consequences to Jasmin, Peter and Crown if Peter purchases 75 shares of Crown stock for $950,000 and Crown redeems Jasmin's remaining 25 shares for $300,000 cash b. How would your answer to Part a change (if at all) if Crown first redeems 25 shares of Jasmin's stock for $300,000 and then Peter purchases the remaining 75 shares from Jasmin for S950.000? Requirement a. What are the tax consequences to Jasmin, Peter and Crown if Peter purchases 75 shares of Crown stock for $950,000 and Crown redeems Jasmin's remaining 25 shares for $300.000 cash? Jasmin will recognize of on her sale of 75 shares of Crown Corporation stock to Peter She will recognize an additional of on the redemption of her remaining shares by Crown. capital gain dividend income return of capital Choose from any list or enter any number in the input fields and then Click Check Answer. parts Clear A Check Answe remaining