The Barryman Drilling Company is planning on repurchasing $1.13 million worth of the company's 460,000 shares of stock, which is currently trading at a price of $11.31per share. Stan Barryman is the founder of the company and still holds 16,000 shares of company stock that he originally purchased for $7.72 per share. If Stan decides to sell 2,100 of his shares for $11.31 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Part 1Stan's after-tax proceeds from the sale are $enter your response here.
The Barryman Drilling Company is planning on repurchasing $1.13 million worth of the company's 460,000 shares of stock, which is currently trading at a price of $11.31per share. Stan Barryman is the founder of the company and still holds 16,000 shares of company stock that he originally purchased for $7.72 per share. If Stan decides to sell 2,100 of his shares for $11.31 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Part 1Stan's after-tax proceeds from the sale are $enter your response here.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Barryman Drilling Company is planning on repurchasing $1.13 million worth of the company's 460,000 shares of stock, which is currently trading at a price of $11.31per share. Stan Barryman is the founder of the company and still holds 16,000 shares of company stock that he originally purchased for $7.72 per share. If Stan decides to sell 2,100 of his shares for $11.31 a share, what will be his after-
Part 1Stan's after-tax proceeds from the sale are $enter your response here.
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