Five years ago, Debbie purchased 1,000 shares of common stock in JonesCorporation for $21,000. In the current year, Debbie receives a nontaxable stock dividend of 50 shares of Jones preferred. Total values at the time of the dividend are $50,000 for the preferred and $100,000 for the common. Based on this information, what is Debbie's basis?

Answer rating: 100% (QA)

Total value common stock 100000 Total value of pr... View the full answer