7don't attempt if you aren't confident in your ability. will thumbs down incorrect answers.

Required Information [The following information applies to the questions displayed below.] Fintstone Company is owned equally by Fred and his sister Wilma, each of whom holds 2,800 shares in the company. Wilma wants to reduce her ownership in the company, and it was decided that the company will redeem 595 of her shares for $27,100 per share on December 31 of this year. Wilma's tax basis in each share is $9,700. Flintstone has current E\&P of $10,220,000 and accumulated E\&P at the beginning of the year is $50,120,000. c. By what amount does Flintstone reduce its E\&P because of the redemption