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John Purchases All of the Common Stock of Clarke Corporation

Question 101

Multiple Choice

John purchases all of the common stock of Clarke Corporation for $280,000.The assets of the corporation are: John purchases all of the common stock of Clarke Corporation for $280,000.The assets of the corporation are: ​ What is John's basis in the common stock he acquired? A) $195,000 B) $215,000 C) $225,000 D) $250,000 E) $280,000 ​
What is John's basis in the common stock he acquired?


A) $195,000
B) $215,000
C) $225,000
D) $250,000
E) $280,000

Correct Answer:

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