Use the following information for Seagull Corporation in 2021:

Book value at beginning of year $300 million

Shares 15 million

Share price-to-book ratio at beginning of year 3.2

Pre-tax profits $50 million

Corporate profits tax rate 25%

Dividend payout ratio .4

Jack the Tipper purchased 1,000 shares at beginning of the year. He sold a quarter of them at year-end when Seagull's price-to-book declined to 3.13 (because its ROE was not that great).

Jack is in the 20% tax bracket (which includes his dividends). Capital gains, if any, are favorably taxed at half the ordinary rate.

What are Jack's taxes related to his investment in Seagull?