Exercise 19-33 (Algorithmic) (1.0.9) Caramel Corporation has 19,300 shares of stock outstanding. In a qualifying stock redemption, Caramel distributes $283,200 in exchange for 4,825 of its shares. At the time of the redemption, Caramel has paid-in-capital of $1,416,000 and E \& P of $849,600. Calculate the reduction to Caramel's E \& P as a result of the distribution. The result of this redemption is a 4 charge to E \& P