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What is Carols basis in the Bragg Corporation shares

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Question - Carol provides services in Year 1 to Bragg Corporation. Her service contract with Bragg listed her fee at $50,000 receivable in cash and/or stock. At the time her fee was due, Bragg stock was trading for $1,000 per share. Carol elected to receive $30,000 in cash and 20 shares of Bragg stock. In Year 4, the Bragg stock split, increasing the number of Carol's shares to 40. In Year 6, Carol sells 20 shares of her Bragg stock for $1,500 per share. What is Carol's basis in the Bragg Corporation shares she still owns?

A. $40,000

B. $20,000

C. $30,000

D. $10,000

Reference no: EM132513195

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