At the beginning of the year, Mr. S paid $15 per share for 620 shares...
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Accounting
At the beginning of the year, Mr. S paid $15 per share for 620 shares of Carmel stock. He received cash distributions totaling $840. His Form 1099-DIV reported that $700 was an ordinary dividend and $140 was a nontaxable distribution. Based on these facts, what is Mr. Ss basis in the 620 shares?
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