Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 100 shares in the company, Viking redeemed 80 shares of Sven's stock for $2,200 per share on December 31, 20X3. Viking has total E&P of $520,000. What are the tax consequences to Viking because of the stock redemption? Multiple Choice No reduction in E&P because of the exchange. A reduction of $176,000 in E&P because of the exchange. A reduction of $208,000 in E&P because of the exchange. A reduction of $416,000 in E&P because of the exchange