Question 20

Frederick Tims, a single individual, sold the following investment assets this year.

Asset	Date purchased	Date sold	Tax basis	Sales price
100 shares Gamma Inc.	01/27/11	05/07/21	$5,000	$15,000
30 shares Land Inc.	12/31/01	10/01/21	$75,000	$100,000
50 shares Down Corp.	12/23/20	11/01/21	$12,000	$18,000
10 shares Extel Inc.	03/25/08	02/19/21	$13,000	$5,000

If Frederick's marginal tax rate on ordinary income is 33% and his marginal preferential rate is 15%, compute his tax attributable to the above sales.Group of answer choices

$4,950

$10,890

$5,910

$6,030