Question
Geneva corporation, a privately held company, has 1 class of voting common stock of which 1000 shares are issued and outstanding. the shares are owned
Geneva corporation, a privately held company, has 1 class of voting common stock of which 1000 shares are issued and outstanding. the shares are owned as follows:
madison Cheeseman 350
brewer partnership 250
brett Cheeseman ( madison's daughter) 100
packer corporation 300
total 1000
madison has a 20 % interest in the partnership. the remaining 80 % is owned by unrelated individuals. madison owns 40 % of packer corporation. the other 60% is owned by her father
how many shares of stock are madison deemed to own under the family attribution rule in a stock redemption.
please explain to me with detail, thanks
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