Answer:
Stock redemption refers to a corporation buying of its own shares. This may be done via money or landed property, for the purpose of either retiring the shares or holding them as treasury stock.
Mitt must take note of the following
i. It'll be impossible that Mitt hold the office of a director or consultant for the corp.
ii. He must report to the IRS if he acquires a forbidden interest in not more than 10 years of the redemptions
