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Yankee Company is owned equally by Aaron and Giancarlo (unrelated taxpayers) each of whom own 1,000 shares in the company (2,000 shares outstanding). Aaron wants

Yankee Company is owned equally by Aaron and Giancarlo (unrelated taxpayers) each of whom own 1,000 shares in the company (2,000 shares outstanding). Aaron wants to reduce his ownership in the company, and it was decided that the company will redeem 500 of his shares for $1,000 per share on December 31, 2020. Aaron's tax basis in each share is $200. Yankee Company has total current and accumulated E&P of $250,000. What amount of capital gain, if any, is recognized by Aaron as a result of this stock redemption?

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