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Lauren owns 600 shares in Viridian Corporation. The remaining 400 shares of Viridian are owned by Laurens son, Brett. Currently, Lauren is both president and

Lauren owns 600 shares in Viridian Corporation. The remaining 400 shares of Viridian are owned by Laurens son, Brett. Currently, Lauren is both president and chair of the board of directors of Viridian Corporation. If Viridian redeems Laurens 600 shares, can the redemption qualify for sale or exchange treatment? Explain.

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