Problem 6 40 (Lo, 1) nako is a corporate shareholder in the 34% tax bracket. He acquired 2,000 shares of stock in Gray Corporation seven years soo a a esot ar $50 per share. Grav. Gray has E & P of $1,000,000. In the current year, Julio received a payment of $150,000 from Gray Corporation in exchange for 1,000 of his shares in Assume that bulio has no capital losses. If the stock ownership in Gray Corporation represented a 25% interest, what income tax Eability would htio incur on payment in each of the following situations? the si 50.000 Click here to access the Dividends Received Deduction Exhibi a. If the payment qualfies for stock redemption sale or exchange treatment, the tax liability for a corporate shareholder would be $ b. If the payment does not qualify for stock redemption sale or exchange treatment, the tax liability for a corporate shareholder would be