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Joel purchased 100 shares of stock for $36 per share. During the year, he received dividend checks amounting to $322. Joel recently sold the stock
Joel purchased 100 shares of stock for $36 per share. During the year, he received dividend checks amounting to $322. Joel recently sold the stock for $63 per share. Joel is in a 33% tax bracket. He would pay $891 in taxes if he held the stock for less than a year. How much would Joel save in taxes if he held the stock for more than a year, assuming he sold it for the same amount?
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