What domingo will have, Juan's stock for $60,000. Juan's

What domingo will have

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Reference no: EM132702694

Problem 1: Domingo, Carlos, and Juan, brothers, own 30 shares, 30 shares, and 40 shares, respectively, in White Corporation (E & P $500,000). White Corporation redeems 20 shares of Juan's stock for $60,000. Juan's basis in the redeemed stock (that he bought five years ago) is $6,000. With respect to the redemption:

a. Juan has dividend income of $54,000.

b. Juan has dividend income of $60,000.

C . Juan has a long-term capital gain of $60,000.

d. Juan has a long-term capital gain of $54,000.

Reference no: EM132702694

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