Please show calculation and there are similar questions with incorrect answers. Thank you! .

Julio is a corporate shareholder (in the 34% tax bracket), and the stock ownership in Gray Corporation represents a 25% interest. He acquired 2,000 shares of stock in Gray Corporation seven years ago at a cost of $50 per share. In the current year, Julio received a payment of $150,000 from Gray Corporation in exchange for 1,000 of his shares in Gray. Gray has E & P of $1,000,000. Julio takes a capital loss carryover of $50,000 into the current tax year. Julio records no other capital gain transactions during the year.

If an amount is zero, enter "0".

a. The payment from Gray Corporation is a qualifying stock redemption for tax purposes. The corporation could offset $_______ of capital loss carryover.

b. The payment from Gray does not qualify as a stock redemption for tax purposes. The corporation could deduct $_______ of the capital loss carryover.