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9. Luke owns 100 shares of common stock in Neon Corporation purchased several years ago for $6,000. In the current year Luke received a nontaxable distribution of stock rights to purchase 40 additional shares of stock in Neon Corporation for $10 each. On the date of the distribution the FMV of the common stock was $90 per share and the FMV of the stock rights was $3,000. What is Luke's basis in the stock rights? a. $ 0 b. $3,000 C. $1,500 d. $4,500 e. None of the answers provided is correct 9. Luke owns 100 shares of common stock in Neon Corporation purchased several years ago for $6,000. In the current year Luke received a nontaxable distribution of stock rights to purchase 40 additional shares of stock in Neon Corporation for $10 each. On the date of the distribution the FMV of the common stock was $90 per share and the FMV of the stock rights was $3,000. What is Luke's basis in the stock rights? a. $ 0 b. $3,000 c. $1,500 d. $4,500 e. None of the answers provided is correct