Joey pays 15% in dividends and capital gain taxes and 40% in ordinary income taxes.In January, she purchased 600 shares of a no-load mutual fund for $29.61 a sharewith the provision that all distributions are reinvested. In October, she sold 300shares for $59.32. At the end of the year, she received a statement stating the fundhad distributions to her of $228 in qualified dividend income, $1,393 in long-termcapital gains, and $1,592 in short term capital gains. What are Joey's taxes on thisinvestment?Round the answer to two decimalsYour Answer:Answer

Taxes refers to the mandatory charges levied by the government on the sum value of money gained by…

= provision that all distributions are reinvestēd. IK or $59.32. At the end of the year, she received as ributions to her of $228 in qualified dividend incc gains, and $1,592 in short term capital gains. Wha ent? he answer to two decimals swer:

= provision that all distributions are reinvestēd. IK or $59.32. At the end of the year, she received as ributions to her of $228 in qualified dividend incc gains, and $1,592 in short term capital gains. Wha ent? he answer to two decimals swer:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Joey pays 15% in dividends and capital gain taxes and 40% in ordinary income taxes.
In January, she purchased 600 shares of a no-load mutual fund for $29.61 a share
with the provision that all distributions are reinvested. In October, she sold 300
shares for $59.32. At the end of the year, she received a statement stating the fund
had distributions to her of $228 in qualified dividend income, $1,393 in long-term
capital gains, and $1,592 in short term capital gains. What are Joey's taxes on this
investment?
Round the answer to two decimals
Your Answer:
Answer

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