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Jack purchased 200 shares of Apple stock earlier this month at the price of $210 per share. Apple stock is trading at $218 today and
Jack purchased 200 shares of Apple stock earlier this month at the price of $210 per share. Apple stock is trading at $218 today and will pay a dividend of $2/share with tomorrow being the ex-date. Jack faces an ordinary income tax rate of 35% and a capital gain tax rate of 18.8%. How much tax will Jack owe to the U.S. federal government when he receives the dividend? $115 $140 $210 $215
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