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Henry sold the following stock during the year. His taxable income is $160,000 (32% ordinary tax rate). How are the stocks reported on Henry's tax
Henry sold the following stock during the year. His taxable income is $160,000 (32% ordinary tax rate). How are the stocks reported on Henry's tax return? Name of Stock Date Purchased Date Sold Purchase Price Sales Price Coca-Cola 04/23/01 10/06/20 $ 3,000 $ 25,000 Claire's Store 06/02/19 01/23/20 $ 1,100 $ 1,300 $ 11,500 Pantry 02/18/73 09/25/20 $ 13,700 O a. $19,800 of net long-term gain taxed at 15 percent and $200 short-term gain taxed at the 32 percent rate. O b. Net $20,000 of long-term gain taxed at 15 percent. O c. Net $20,000 of long-term gain taxed at 32 percent. O d. $19,800 of net long-term gain taxed at zero percent and $200 short-term gain taxed at the 32 percent rate
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