10 Feb Y Corporation has 100 shares of common stock and 1
Y Corporation has 100 shares of common stock and 100 shares of nonvoting preferred stock outstanding. The preferred stock is not convertible into Y common stock and is not section 306 stocks. The Y common and preferred stock are owned buy the following unrelated shareholders: Will the following alternative redemption qualify for exchange treatment under section 302(b)? a) Y redeems 5 preferred shares from E. b) Y redeems all of its outstanding preferredstock.