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Scranton Inc. is a CCPC with a nil GRIP balance. It has 1 0 0 , 0 0 0 shares outstanding, all of which were

Scranton Inc. is a CCPC with a nil GRIP balance. It has 100,000 shares outstanding, all of which were issued for $8.00 per share. Nellie Ward owns 10,000 of these shares which she acquired at a cost of $7.00 per share. In 2023, the company redeems Nellie's shares at a price of $10.00 per share. What amount will be included in Nellie's 2023 net income as a result of the redemption? Use the editor to format your answer Continue

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