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Franklin owns four shares of common stock in a biotechnology firm. He paid $130 per share for the first two shares, and $160 per share
Franklin owns four shares of common stock in a biotechnology firm. He paid $130 per share for the first two shares, and $160 per share for the second two shares. The company declared a 2-for-1 common stock split. What is Franklin's new basis in his shares of stock?
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