Ryan Company purchased 80% of Chase Company for $270,000 when Chase's book value was $300,000. Ryan paid no premium. Chase has 50,000 shares outstanding and currently has a book value of $400,000.Assume Chase reacquired 8,000 shares of its common stock from outsiders at $10 per share.What is Ryan's percent ownership in Chase after the acquisition of the treasury shares (rounded)?
A. 69%.
B. 80%.
C. 64%.
D. 95%.
E. 76%.
Answer: D
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The existence of an LLC begins when the articles of organization are filed.
Answer the following statement true (T) or false (F)