In 2008, Jane Jones Pays $2,500 for 1,000 Shares of ABC

question 28

Multiple Choice

In 2008, Jane Jones pays $2,500 for 1,000 shares of ABC common stock. On August 27, 2012, Jane purchases an additional 250 shares of ABC common stock for $600. On September 5, 2012, she sells the 1,000 shares purchased in 2008 for $1,800. Jane's basis in the shares of stock purchased on August 27, 2012 is:

• A) $75.
• B) $425.
• C) $600.
• D) $775.
• E) $1,125.

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Definitions:

Plantation Owners

Individuals or entities that owned large agricultural estates historically, often relying on enslaved or indentured labor, particularly in the context of the Americas and colonial periods.

Whiteness

A social construct that privileges white people over those of other racial backgrounds, historically and culturally embedded within societies, influencing systemic inequities and social dynamics.

Racial Classification

The process of categorizing individuals or groups based on physical characteristics, such as skin color, often used for bureaucratic, social, or political purposes.

Countries

Distinct territorial bodies or areas recognized as independent nations, often characterized by a specific government and populace.