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MJJM Inc. has four equal shareholders who are unrelated. Each shareholder owns 300 shares of...

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Accounting

MJJM Inc. has four equal shareholders who are unrelated. Each shareholder owns 300 shares of the common stock of MJJM Inc. representing all of the stock of MJJM Inc. During the taxable year, as part of a single transaction, MJJM Inc. redeemed stock from three of the shareholders. Specifically, MJJM Inc. redeemed 150 shares from Michael, 75 shares from Joseph, and 40 shares from John. The redemption was substantially disproportionate for:

Group of answer choices

Michael and Joseph

Michael and John

Joseph only

Michael only

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