Danny originally purchased 100 shares of ABC, Inc. on June 15, 2017 for $80,000. Danny then sold 100 shares of ABC, Inc. on August 10, 2020 for $60,000. On August 25, 2020, Danny repurchased 100 shares of ABC, Inc. for $40,000. What is Danny's basis in his shares of ABC, Inc. purchased on August 25th?

Answer rating: 100% (QA)

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