Required information [The following information applies to the questions displayed below.] Flintstone Company is owned equally by Fred Stone and his sister Wilma, each of whom holds 1,400 shares in the company. Wilma wants to reduce her ownership in the company, and it was decided that the company will redeem 300 of her shares for $32,300 per share on December 31 of this year. Wilma's tax basis in each share is $8,000. Flintstone has current E\&P of $10,190,000 and accumulated E\&P at the beginning of the year is $50,570,000. a. What are the amount and character (capital gain or dividend) recognized by Wilma as a result of the stock redemption, assuming only the "substantially disproportionate with respect to the shareholder" test is applied