. Naomi owns 1,000 shares of Nordstrom Corp. common stock which she purchased for $40700 and later receives a nontaxable preferred stock dividend of 200 shares of Nordstrom preferred stock when the FMV of the preferred was $80 per share and the FMV of the common was $64 per share. What is the basis of the common shares after the dividend?
. Naomi owns 1,000 shares of Nordstrom Corp. common stock which she purchased for $40700 and later receives a nontaxable preferred stock dividend of 200 shares of Nordstrom preferred stock when the FMV of the preferred was $80 per share and the FMV of the common was $64 per share. What is the basis of the common shares after the dividend?
Chapter9: Acquisitions Of Property
Section: Chapter Questions
Problem 71IIP
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1. Naomi owns 1,000 shares of Nordstrom Corp. common stock which she purchased for $40700 and later receives a nontaxable
What is the basis of the common shares after the dividend?
[For your answer, please use whole number (no need to round) and ignore the dollar sign and the comma.]
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