Dev recently sold Protus Corp for $45 after holding back the stock for a year. He received dividends payments totally $1.20 over that year and earned 9.5%. How much did Dev pay for Protus?

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter14: Property Transactions: Determination Of Gain Or Loss And Basis Considerations
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Dev recently sold Protus Corp for $45 after holding back the stock for a year. He received dividends payments totally $1.20 over that year and earned 9.5%. How much did Dev pay for Protus?
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