John Bordy owns 2,200 units of the DRC Growth Fund, a mutual fund trust. These...
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John Bordy owns 2,200 units of the DRC Growth Fund, a mutual fund trust. These units were purchased at a price of $8.15 per unit, for a total value of $17,930. His adjusted cost base for these units has not changed since their acquisition. On December 12 of the current year, the Fund has an income distribution of $0.27 per unit, resulting in an addition of $594 to Johns account. All of this distribution is reinvested at a purchase price per unit of $10.40.
What will be his adjusted cost base per unit after the reinvestment?
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