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Test: CPA Regulation (REG)
1. | Ann purchased 100 shares of stock for $50 per share. Ten years later, Ann died on February 1 and bequeathed the 100 shares of stock to a relative, Blake, when the stock had a market price of $100 per share. One year later, on April 1, the stock split 2 for 1. Blake gave 100 shares of the stock to another of Ann’s relatives, Greg, on June 1 that same year, when the market value of the stock was $150 per share. What was Greg’s basis in the 100 shares of stock when acquired on June 1? |
$15,000
$10,000
$5,000
$5,100
Antonia
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University of Washington, Bachelor's (in progress), Computer Science; Law, Societies, and Justice.
Sivachandiran
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University of Madras, Chennai, India, Bachelor of Science, Chemistry. University of Madras, Chennai, India, Master of Science...
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