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Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each

Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 220 shares in the company. Under the 318 stock attribution rules, how many shares of Lansing stock is DeWitt Corporation deemed to own?

Multiple Choice

  • 220

  • 440

  • 550

  • 660

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