Question
Tom bought 100 shares of Apple stock at $200 each sixteen months ago, and today Apple stock price is $220. Apple just paid a dividend
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Tom bought 100 shares of Apple stock at $200 each sixteen months ago, and today Apple stock price is $220. Apple just paid a dividend of $0.75 per share. Tom faces an ordinary income tax rate of 35% and capital gain/qualified dividend tax rate of 18.8%.
If Tom sells all his Apple stock today, how much capital gain tax would he owe to IRS?
$200
$376
$700
$2000
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Financial Management Principles And Practice
Authors: Timothy Gallagher
6th Edition
1930789157, 978-1930789159
