Tiffany owned 10 shares of GIA stock which was selling for $150 per share when the company declared a 10 for 1 split. After the split, how many shares does Tiffany own and at what price?

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
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Tiffany owned 10 shares of GIA stock which was selling for $150 per share when the company declared a 10 for 1 split. After the split, how many shares does Tiffany own and at what price?

 

2. In 2015, John and Nicole earned a combined taxable income of $148,800 from employment plus $1,000 in long term capital gains and they file a joint tax return.  What is their tax on the capital gain?

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