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Julia owns 1,000 shares of Orange Corporation. This year, Orange declared a 10% stock dividend....

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Question

Accounting

Julia owns 1,000 shares of Orange Corporation. This year, Orange declared a 10% stock dividend. There was no option for shareholders to receive cash. When Julia received 100 shares of Orange stock, it had a fair market value of $50 a share. How much income does Julia have from the dividend?

A.

$50

B.

$50,000

C.

$0

D.

$5,000

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