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cole owns 2000 shares of stock in chase corporation, worth 75 per share. the 2000 shares were purchased in 2011 for 48 per share. in 2017 the corporation issues a 10% stock dividend to all common sharesholders with an option of receiving either the stock or the cash equivalent of 26000. cole selected the stock. what is cole's total basis in the stock

cole owns 2000 shares of stock in chase corporation, worth 75 per share. the 2000 shares were purchased in 2011 for 48 per share. in 2017 the corporation issues a 10% stock dividend to all common sharesholders with an option of receiving either the stock or the cash equivalent of 26000. cole selected the stock. what is cole's total basis in the stock

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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cole owns 2000 shares of stock in chase corporation, worth 75 per share. the 2000 shares were purchased in 2011 for 48 per share. in 2017 the corporation issues a 10% stock dividend to all common sharesholders with an option of receiving either the stock or the cash equivalent of 26000. cole selected the stock. what is cole's total basis in the stock
Transcribed Image Text:cole owns 2000 shares of stock in chase corporation, worth 75 per share. the 2000 shares were purchased in 2011 for 48 per share. in 2017 the corporation issues a 10% stock dividend to all common sharesholders with an option of receiving either the stock or the cash equivalent of 26000. cole selected the stock. what is cole's total basis in the stock
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