In the Current Year, Loon Corporation Made a Distribution in Redemption

Multiple Choice

In the current year, Loon Corporation made a distribution in redemption of some of its shares.Loon incurred expenditures in connection with the redemption totaling $35,000 (accounting fees of $9,000, legal fees of $20,000, and brokerage fees of $6,000) .The distribution was a qualifying stock redemption.How much of the $35,000 is deductible in the current year?

A) $6,000.
B) $9,000.
C) $29,000.
D) $35,000.
E) None of the above.