Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter29: Interest, Rent, And Profit
Section: Chapter Questions
Problem 3QP
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Question
- Serena purchased 10 shares of GLC, Inc. stock for $200 per share; one year later she sold the 10 shares for $220 a share. Over the year, the price level increased from 135.0 to 143.1. The tax rate on
capital gains is 50 percent. If thecapital gains tax is on nominal gains, how much tax does Serena pay on her gain? - $90 $95 C. $100 D. None of the above is correct.
Can you please explain the steps how we got c ?
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