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You purchased 100 shares of MegaCorp for $12.50 per share four months ago. The brokerage fee was 6% of the total dollar amount of the
You purchased 100 shares of MegaCorp for $12.50 per share four months ago. The brokerage fee was 6% of the total dollar amount of the purchase. Today you sold the shares for $25.00 per share. Brokerage fees were 6% of the total sale value. If you are in the .28 marginal tax bracket, how much tax do you owe on the capital gain? (Hint: since this is a short-term investment [less than one year]) Group of answer choices $150 capital gain tax owed $2,350 capital gain tax owed $1,325 capital gain tax owed $287 capital gain tax owed
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