Question: investmentrelated exclusions lo 6 rona receives the following items during...
Investment-Related Exclusions (LO. 6)
Rona receives the following items during the current year:
In addition, Rona owns 1,600 shares of Cochran Corporation common stock. Cochran has a dividend reinvestment plan through which stockholders can receive a stock dividend equal to 4% of their holdings in lieu of a cash dividend of equal value. Rona takes the 64 shares of stock, which are worth $6 per share.
Rona has a gross income of $ for the current year.