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Jacob makes the following purchases of shares of Globex, a public Canadian company: - 1/1/2001: 95 shares, $25 each - 1/1/2005: 180 shares, $75 each
Jacob makes the following purchases of shares of Globex, a public Canadian company: - 1/1/2001: 95 shares, $25 each - 1/1/2005: 180 shares, $75 each - 1/1/2010: 430 shares, $19.50 each The shares are capital assets to Jacob. Jacob sells 95 shares during the current taxation year and receives proceeds from the sale of $7,000. How much is Jacob's gross capital gain on the sale? Choose the correct answer. (Round to the nearest dollar.) A. $0 B. $3,731 C. $4,625 D. $7,125
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