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Mary owns 50 of 250 outstanding shares of X corporation. Assume that X corporation has $100,000 in current earnings and profits, no accumulated earnings and

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Mary owns 50 of 250 outstanding shares of X corporation. Assume that X corporation has $100,000 in current earnings and profits, no accumulated earnings and profits, and there were no dividends or other distributions this year. If Mary's stock is redeemed for $15,000 on December 31, what is the effect on earnings and profits?|

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