Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 160 shares in the company. Viking redeemed 80 shares of Sven's stock for $1,900 per share on December 31, 20X3. Viking has total E&P of $580,000. What are the tax consequences to Viking because of the stock redemption? Multiple Choice No reduction in E&P because of the exchange. A reduction of $152,000 in E&P because of the exchange. A reduction of $145,000 in E&P because of the exchange. A reduction of $290,000 in E&P because of the exchange.

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