Answer:
The question that corresponds to this is
Explanation:
Brent called insurance companies and got insurance quotes for the three trucks. Both the 1996 Ford F150 and the 1998 Chevy 1500 were quoted for $250 and the 2000 Toyota Tundra was quoted for $245. To help Brent make his decision gather some more reliable information by using newspapers, or looking at their Web sites, and reviewing consumer magazines and Web sites. Also, look at the manufacturer Web site or www.fueleconomy.gov for information about gas mileage. List the sources you use and include the notes you take from each source.
Answer:
a. How much gross income must Kelly recognize?
$0, the distribution will not increase her gross income.
b. What is the basis of each stock right received?
{[(500 x $10)/ (500 x $10 + 500 x $40)] x $70,000} / 500 shares= $14,000 / 500 = $28
c. If she sells the 100 stock rights for $9,000, what is her gain?
gain = $9,000 - (100 x $28) = $6,200
d. If she exercises the 100 stock rights on September 8, what is the basis of the 100 shares she receives and when does the holding period for those shares start?
basis = $2,800 + (100 x $110) = $13,800
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