Geneva Corporation, a privately-held company, has one class of voting common stock, of which 1,000 shares are issued and outstanding. The shares are owned as follows:
Madison has a 20 percent interest in the partnership. The remaining 80 percent is owned by unrelated individuals. Madison owns 40% of Packer Corporation. The other 60 percent is owned by her father.
How many shares of stock is Madison deemed to own under the family attribution rules in a stock redemption?
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Explanation: Madison is deemed to ow...
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