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13) Martha owns Gator Corporation stock having an adjusted basis of $21,000. As part of...

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Accounting

13) Martha owns Gator Corporation stock having an adjusted basis of $21,000. As part of a tax-free reorganization involving Gator and Baker Corporations, Martha exchanges her Gator stock for $18,000 of Baker stock and $6,000 (face amount and FMV) of Baker securities. What is Martha's basis in the Baker stock? (5)

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