White Corporation (E&P of $300,000) has 5,000 shares of common stock outstanding. The shares are owned as follows:

• Belinda Markey: 2,000 shares

• Lucian Markey (Belinda’s son): 2,000 shares

• Dominic Markey (Belinda’s brother): 1,000 shares

In the current year, White redeems all of Belinda’s shares. Determine whether the redemption can qualify for sale or exchange treatment under the complete termination redemption rules in each of the following independent circumstances:

a. Belinda remains as a director of White Corporation

b. Belinda resigns as a director of White Corporation; Lucian becomes a director of the corporation to replace Belinda

c. Four years after the redemption, Belinda acquires 500 shares in White Corporation as a gift from Dominic

Explain your answers for each circumstance.