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"On November 10th, a customer buys 200 shares of ABC stock at $50 per share. On November 29th of the same year, the customer sells the stock at $44. On December 15th of the same year, the customer buys ABC stock at $49. The customer's cost basis in ABC stock is:"

Respuesta :

abiolataiwo2015

Answer:

$55 per share

Explanation:

Calculation for the customer's cost basis in ABC stock

Based on the information given we were told that the customer bought the stock at the amount of $50 in which he later sold at the amount of $44 making the customers to have a loss of $6 per share ($50-$44), which means the customer adjusted of the cost basis on the stock will be calculated as :

ABC stock $49 + Loss of $6 per share

=$55 per share.

Therefore The customer's cost basis in ABC stock is: $55 per share.

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