casper3217 casper3217
  • 08-02-2024
  • Business
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Canary Corporation has 5,000 shares of stock outstanding. It redeems in a qualifying stock redemption 1,200 shares for $475,000 at a time when it has paid-in capital of $300,000 and E & P of $1,500,000. What would be the charge to Canary's E & P as a result of the redemption?

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