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Andrew and Jennifer are in the 25% marginal tax bracket. Three years ago they purchased 100 shares of stock at $20 a share. In 2015,
Andrew and Jennifer are in the 25% marginal tax bracket. Three years ago they purchased 100 shares of stock at $20 a share. In 2015, they sold the 100 shares for $29 a share. What is the amount of federal income tax they owe as a result of this sale?
A.
$165
B.
$225
C.
$435
D.
$135
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