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Compute the capital gains tax liability for each of the following cases: a. An individual sold a municipal bond for $1,150 two years after it
Compute the capital gains tax liability for each of the following cases: a. An individual sold a municipal bond for $1,150 two years after it was purchased for $950. b. An individual sold 100 shares of a stock for $12 per share two years after it was purchased at a price equal to $10 per share. c. A corporation with a marginal tax rate equal to 35 percent bought 100 shares of stock of another company for $55 per share and then sold it for $57 per share two years later.
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