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*The answer is D. just need to know how it was calculated? * 10. Sally owns 100 shares of common stock in Eagle Corporation purchased

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*The answer is D. just need to know how it was calculated? *

10. Sally owns 100 shares of common stock in Eagle Corporation purchased several years ago for $100,000. In the current year Sally receives 100 nontaxable stock rights with a FMV of $30,000 when the FMV of the stock is $120,000. What is Sally's basis in the stock rights? a. $ 0 b. $80,000 c. $30,000 d. $20,000 e. None of the answers provided is correct

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