Sue received 50 shs of Zoll Industry stock from her Uncle Dave for a graduation...
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Accounting
Sue received 50 shs of Zoll Industry stock from her Uncle Dave for a graduation present. Dave purchased the stock in 1986 at $20/sh. The stock was worth $50/sh when Sue graduated!! . What is Sues basis in the stock?
$1,000 $2,500 $1,500 No basis.
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