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Topic
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Taylor owns 1,000 shares of Media Corporation common stock with a basis of $22,000 and a fair market value of $33,000. Media paid a nontaxable 10% common stock dividend. What is the basis for each share of Media common stock owned by Taylor after receipt of the dividend?
a.$33
b.$30
c.$20
d.$22
Source: Wiley Test Bank
Link: https://www.another71.com/products-page/wiley-software/
AUD - 79
BEC - 80
FAR - 76
REG - 92
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