Question
Two years ago, Sanjay purchased 2,500 units in a Canadian start-up company called Here We Go Inc. for $15,000. On October 22, 2021, he sold
Two years ago, Sanjay purchased 2,500 units in a Canadian start-up company called Here We Go Inc. for $15,000. On October 22, 2021, he sold 1,250 shares when they hit $18.50/share and incurred a large gain. He also incurred a capital loss of $7,500 on some mutual funds that he sold earlier in the year in May 2021. His tax rate in 2021 is expected to be 43%.
How much tax will he pay on the sale of these investments?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
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