14. Stan Pearl owns 300 shares of Royal Optical Company stock, which he bought for $ 16 per share. He is in a 35 percent tax bracket. It is the first week in December, and he has already received the full cash dividend for the year of $1.20 per share. For his tax bracket, dividends are taxed at 15 percent. The stock is currently selling for $30!/8. He has decided to sell the stock and after paying broker commissions, his net proceeds will be $30 per share. His tax rate on capital gains is also 15 percent (the capital gains are long term).

How much in total taxes will Stan Pearl pay this year for his investment in Royal Optical Company? Consider dividend income as well as capital gains.