Leyla has invested in a stock in January 2020. She has paid $18 per share and has purchased 500 shares. She sold her shares in December 2020 for $26 per share. In 2020, she received $1.50 dividend per share. Assume that her marginal tax rate is 40% and she is not elligible for dividend tax credit. Calculate the total dollar amount of taxes she needs to pay in her investment. (Omit $ sign in your response)
Leyla has invested in a stock in January 2020. She has paid $18 per share and has purchased 500 shares. She sold her shares in December 2020 for $26 per share. In 2020, she received $1.50 dividend per share. Assume that her marginal tax rate is 40% and she is not elligible for dividend tax credit. Calculate the total dollar amount of taxes she needs to pay in her investment. (Omit $ sign in your response)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Leyla has invested in a stock in January 2020. She has paid $18 per share and has purchased 500 shares. She sold her
shares in December 2020 for $26 per share. In 2020, she received $1.50 dividend per share. Assume that her marginal
tax rate is 40% and she is not elligible for dividend tax credit. Calculate the total dollar amount of taxes she needs to pay
in her investment. (Omit $ sign in your response)
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