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Suppose you love Costco and you choose to buy their stock. You purchase 50 shares of Costco stock on May 2023 for $490/share. Assume
Suppose you love Costco and you choose to buy their stock. You purchase 50 shares of Costco stock on May 2023 for $490/share. Assume that your Marginal Tax Rate is 24%. A. You sell the 50 shares for $550/share on September 30 2023. Over the course of your owning the asset you received ordinary (non- qualified) dividends equal to $10/share. What would be the total amount that you would owe in taxes (please round to the nearest whole dollar, ex. 1,256.70 would be 1,257)?
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