Melonie purchased 100 shares of Wake Corporation stock for $6 per share on August 3, 2012. On December 18, 2013, Melonie sells all 100 shares for $4 per share. On January 5, 2014, Melonie purchases 50 shares of Wake stock for $5 per share. What is the basis of the 50 shares Melonie holds on January 5, 2014?
A) - 0 -
B) $ 50
C) $250
D) $450
E) $650
Correct Answer:
Verified
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