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Dom buys 50 shares of Luu Corporation stock for $25 per share. 1. Does Dom...

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Accounting

Dom buys 50 shares of Luu Corporation stock for $25 per share.

1. Does Dom have Gross Income if he receives a $1 per share dividend?

2. Does Dom have Gross Income if Luu Corporation Declares a 2-for-1 stock split? A stock dividend? Why or Why not?

3. Does Dom have Gross Income if Luu Corporation Declares a 2-for-1 stock split with an option that allows for Dom to receive $12.5 per share dividend instead? Why or why not?

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