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Question content area top Part 1 In 2019, Toni purchased 100 shares of common stock...

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Accounting

Question content area top Part 1 In 2019, Toni purchased 100 shares of common stock in Blue Corporation for $5,280. In 2020, Blue declared a stock dividend of one share of its common stock for each 10 shares held. In 2021, Blue's common stock split 2for1 at a time when the FMV was $80 a share. What is Toni's basis in each of her shares of the Blue Corporation stock if both of the earlier stock dividends were taxfree?

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