Solved

February 20, 2012: Lee Ranger Purchased 100 Shares of Pine

Question 17

Multiple Choice

February 20, 2012: Lee Ranger purchased 100 shares of Pine Corp. stock for $30 a share. April 7, 2012: Lee sold 50 shares of Pine Corp. stock for $20 a share. April 24, 2012: Lee purchased 25 shares of Pine Corp. stock for $25 a share.
What is the basis of the 25 shares purchased on April 24, 2012?


A) $625
B) $875
C) $1,125
D) $750

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions