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Rick recently received 545 shares of restricted stock from his employer, Crazy Corporation, when the share price was $14 per share. Rick's restricted shares vested
Rick recently received 545 shares of restricted stock from his employer, Crazy Corporation, when the share price was $14 per share. Rick's restricted shares vested three years later when the market price was $21. Rick held the shares for a little more than a year and sold them when the market price was $24. What is the amount of Rick's gain on the sale of the stock? Assuming a marginal tax rate of 30 percent, what is Rick's tax on the sale of the stock?
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