Koltech Corporation has three shareholders: Jack, Clark, and Connie who own 600.200 , and 200 shares respectively. Clark and Connie are Jack's children. Koltech redeems all of Jack's shares for $150,000. Jack's basis in his shares is $50,000. Jack agrees ir writing that he will not acquire a stock interest nor serve as a director, officer, or employee for the next ten years. SEE TOPIC APPLICATION HANDOUT \& NOTES. Select the true statement from the list below. Jack has dividend income of $150,000. Jack has a capital gain of $150,000. Jack has a capital gain of $100,000. The corporation will transfer out E\&P equal to the full amount of the distribution