Multiple Choice
Able Company receives a stock dividend of 50 shares from Cole Company. Able previously owned 750 shares of Cole stock that had a cost basis of $4,800. The cost basis per share of Cole stock is:
A) $6.40.
B) $6.00.
C) $6.85.
D) $96.
Correct Answer:
Verified
Correct Answer:
Verified
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