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Business, 18.02.2020 20:43 hannahgrac3
On January 31 of this year, Jennifer pays $700for an option to aquire100 sharesof lifetime corporation common stock for $70 per share. Jennifer exercises the option on June 2. Jennifer sells the stock on April 30 of the next yearfor $10,000. Jennifer's basis for the stock immediately before the sale is?
a. -0-
b. $700
c. $7,000
d. $7,700
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