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Damian inherited 500 shares of William Industries stock from his Uncle William. William purchased the stock in 1998 at $40 per share. The stock was

Damian inherited 500 shares of William Industries stock from his Uncle William. William purchased the stock in 1998 at $40 per share. The stock was worth $225 per share when William passed away. What is Damian's basis in the stock?

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$20,000

$92,500

$112,500

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