chapter 17 Q19

Tax Consequences. Rena purchased 200 shares of a no-load stock mutual fund. During the year she received $6.16 per share in dividend distributions, \$201 in long-term capital gain distributions, and capital gains of $1,232 when she sold the stock after owning it eight months. What are the tax consequences of Rena's ownership of this stock fund? Rena is in a 35% marginal tax bracket. The tax consequences of Rena's ownership of this stock fund are $ (Round to the nearest cent.)