FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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You purchased 100 shares of MegaCorp for $17 per share four months ago. The brokerage fee was 4% of the total dollar amount of the purchase. Today you sold the shares for $23.50 per share. Brokerage fees were 4% of the total sale value. If you are in the .28 marginal tax bracket, how much tax do you owe on the capital gain? You just sold 300 shares of stock at a price of $42.06 a share. You purchased the stock for $39.80 a share and have received total dividends of $1,272. What is the total capital gain on this investment?
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Transcribed Image Text:You purchased 100 shares of MegaCorp for $17 per share four months ago. The brokerage fee was 4% of the total dollar amount of the purchase. Today you sold the shares for $23.50 per share. Brokerage fees were 4% of the total sale value. If you are in the .28 marginal tax bracket, how much tax do you owe on the capital gain? You just sold 300 shares of stock at a price of $42.06 a share. You purchased the stock for $39.80 a share and have received total dividends of $1,272. What is the total capital gain on this investment?
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