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Dafna1 [17]
3 years ago
10

nyle Corp. owned 100 shares of Beta Corp. stock that it bought in 1993 for $9 per share. In 2014, when the fair market value of

the Beta stock was $20 per share, Nyle distributed this stock to a noncorporate shareholder. Nyle's recognized gain on this distribution was:
Business
1 answer:
Inga [223]3 years ago
6 0

Answer:

$1100.

Explanation:

We have been given that Nyle Corp. owned 100 shares of Beta Corp. stock that it bought in 1993 for $9 per share. In 2014, when the fair market value of the Beta stock was $20 per share.

Nyle's recognized gain on this distribution would be:

\text{Value of 100 share at a rate of }\$20\text{ per share }-\text{Value of 100 share at a rate of }\$9\text{ per share}

\$20\times100-\$9\times 100=100(\$20-\$9)=100(\$11)=\$1100

Therefore, Nyle's recognized gain on this distribution was $1100.

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