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Question 11 (Mandatory) (3.34 points) This year Barney purchased 520 shares of Bell common stock for $21.00 per share. At year-end the Bell shares were
Question 11 (Mandatory) (3.34 points) This year Barney purchased 520 shares of Bell common stock for $21.00 per share. At year-end the Bell shares were only worth $3.00 per share. What amount can Barney deduct as a loss this year? $10,920 Barney can deduct $10,920 only if he includes $1,560 in his taxable income $1,560 None of the choices are correct - Barney is not entitled to a loss deduction $9,360
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