What is elizabeths basis in the stock, Financial Accounting

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What is elizabeths basis in the stock

Problem

Elizabeth received 100 shares of XYZ Company stock from her uncle James for a graduation present in 2022. James purchased the stock in 2016 at $10 per share. The stock was worth $45 per share when Elizabeth graduated. What is Elizabeth's basis in the stock?

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Financial Accounting: What is elizabeths basis in the stock

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Financial Accounting: What is elizabeths basis in the stock

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