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gust 27, 2020 Time Left:2:25:12 Sukhdeep Kaur: Attempt 1 Previous Page Next Page Page 12 of 17 Question 12 (5 points) Elton Inc. has 220,000 common shares outstanding. All of these shares were issued at a price of $12 per share, for total proceeds of $2,640.000. This is the PUC of the shares A dissident shareholder, who acquired his 15,000 shares at a price of $10 per share, has been a major problem for the Company. To rid itself of the problems associated with this individual, the Company has offered to redeem his shares at $12.50 per share. This offer has been accepted. Any dividends resulting from the redemption will be non-eligible. Determine the tax consequences of this redemption to the dissident shareholder Paragraph