Need Help with this Question You purchased 100 shares of MegaCorp for $17 per sharefour months ago. The brokerage fee was 4% of the totaldollar amount of the purchase. Today you sold the sharesfor $23.50 per share. Brokerage fees were 4% of the totalsale value. If you are in the .28 marginal tax bracket, howmuch tax do you owe on the capital gain?You just sold 300 shares of stock at a price of $42.06 ashare. You purchased the stock for $39.80 a share andhave received total dividends of $1,272. What is the totalcapital gain on this investment?

Given,Number of shares = 100Purchase price per share = $17Here,Total purchase cost = 100×17=…

Answered: You purchased 100 shares of MegaCorp…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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