Following a contraction of business, a calendar-year corporation adopted a partial liquidation plan one year ago. This year, the corporation redeems stock owned by Jerry Able, a minority stockholder. Which of the following best describes the result of the redemption from Jerry's standpoint?

A.The transaction will not qualify as a sale or exchange.

B.The transaction will only qualify as a sale or exchange if 100% of Jerry's stock is redeemed.

C.The transaction will qualify as a sale or exchange if part of his stock is redeemed as a result of the partial liquidation of the corporation.

D The transaction will qualify as a sale or exchange if the distribution is essentially equivalent to a dividend.