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Christopher sold 350 shares of Cisco stock for $27,650 in the current year. He purchased the shares several years ago for $16,450. Assuming his ordinary

Christopher sold 350 shares of Cisco stock for $27,650 in the current year. He purchased the shares several years ago for $16,450.

Assuming his ordinary income tax rate is 24 percent, and he has no other capital gains or losses, how much tax will he pay on this gain? (Use thedividends and capital gains tax ratesandtax rate schedules.)

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