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Grant Corp. has 400 shares of common stock outstanding of which Alpha, Bravo, Charlie, and Delta each own 100 shares, or 25 percent. No stock

Grant Corp. has 400 shares of common stock outstanding of which Alpha, Bravo, Charlie, and Delta each own 100 shares, or 25 percent. No stock is considered constructively owned by any of the shareholders under Section 318. Grant redeems 34 shares from Alpha, 24 shares from Bravo, and 42 shares from Charlie. Which shareholder qualifies for exchange treatment on this redemption? a. Bravo b. Charlie c. Alpha d. Delta

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