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Sharon has diligently invested in Giant Oil Corporation for 2 0 years. Over that time, the stock has gone up and down in price, but

Sharon has diligently invested in Giant Oil Corporation for 20 years. Over that time, the stock has gone up and down in price, but Sharon has continued to invest in it. Her average purchase price for each share of stock is $38.50. The stock is currently trading for $80.20 per share. Assume Sharon has a 15% long-term capital gains tax rate (capital gains taxes are covered in an earlier chapter).
If Sharon owns 600 shares, what will be Sharon's long-term capital gains tax on her $41.70($80.20-$38.50) per share gain?
Sharon's long-term capital gain $
What will be her after-tax gain?
After-tax gain $
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