Bart a 50% owner of Atlas Corps common stock receives a distribution of anew cla

Bart a 50% owner of Atlas Corps common stock receives a distribution of anew class of Atlas preferred stock having a $40000 FMV. Barts basis in the Atlas common stock is $30000. Its FMV is $80000 on the distribution date. One year later the corp. redeems the preferred stock for $75000. At the time the stock was issued the corp.s current and accumulated E&P was $80000. At the end of the year of redemption the current and accumulated E&P is $25000. No other distribution out of E&P were made in the year of redemption. What r the tax consequences of the transaction? How much will be taxed to the recepient as a divident? How much is a return of capital? Is any of the disttribution a capital gain?