What is the adjusted basis of the stock and rights

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Reference no: EM131446848

Bruce receives 20 stock rights in a nontaxable distribution. The stock rights have a FMV of $5,000. The 100 shares of common stock with respect to which the rights were issued have a basis of $14,000 and a FMV of $30,000. What is the adjusted basis of the stock and rights?

Reference no: EM131446848

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