(Stock repurchase and taxes) The Barryman Drilling Company is planning on repurchasing $1.00 million worth of the company's 500,000 shares of stock, which is currently trading at a price of $10.01 per share. Stan Barryman is the founder of the company and still holds 18,000 shares of company stock that he originally purchased for $7.83 per share. If Stan decides to sell 2,100 of his shares for $10.01 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Stan's after-tax proceeds from the sale are $21021. (Round to the nearest dollar.)

Approach to decide on the efficient procurement and investment of funds for the day-to-day operations of a business. Financial management aims at profit maximization, and it includes financing and capital budgeting.