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How much gross income must cheryl report as a result

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Reference no: EM132842349

Problem 1: The Board of Directors of CYZ Corporation votes to issue two shares of stock for each share held as a stock dividend to shareholders. Just prior to the dividend, Cheryl owns 100 shares of CYZ Corporation stock that she purchased for $10 per share. She receives 200 new shares as a result of the dividend. How much gross income must Cheryl report as a result of the dividend and what is her stock basis per share the dividend?

Reference no: EM132842349

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