Sam owns 80 percent of the stock of Club Corporation. Unrelated individuals own the remaining 20 percent. For a stock redemption of Sam's stock to be treated as an exchange under the substantially disproportionate" test, what percentage of Club stock must Sam own after the redemption? Multiple Choice Any percentage less than 80 percent. Any percentage less than 64 percent Any percentage less than 50 percent. All stock redemptions involving individuals are treated as exchanges