What was sams per-share basis in the stock when it was sold

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Reference no: EM133654269

Question: Three years ago, Sam received a gift of 100 shares of common stock from his uncle. The fair market value of the stock on the date of the gift was $12 per share. His uncle had purchased the stock four years earlier at $5 per share. Sam sold this stock for $17 per share last week. What was Sam's per-share basis in the stock when it was sold?

Reference no: EM133654269

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