Question
Grandma Alice purchased 100 shares of Hershey stock on February 20, 1952 for $24 per share and passed away on December 21, 2019. In her
Grandma Alice purchased 100 shares of Hershey stock on February 20, 1952 for $24 per share and passed away on December 21, 2019. In her will, she bequeathed these shares to her nephew, Horace. Horaces cost basis on the shares is:
A. $24 per share
B. The closing price on December 21, 2019
C. The closing price on the date the shares appear in Horaces account
D. $0
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
