Julio owns 1340 of the 2000 shares outstanding in Cyan Corporation. Julio had paid $55 per share for the stock 5-years ago. The remaining stock outstanding is owned by n related individuals. What is the tax consequence if Cyan redeemed 600 of Julio's stock holdings for 275,000. does this redemption meet the test for not essentially equivalent to a dividend? Why/why not is this a substantially disproportionate redemption? Why/why not? Assuming sufficient E&P, how will the income recognized and taxed on Julio's return