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Yakvenalex [24]
2 years ago
14

Harvey, a u.s. taxpayer, purchased 10 shares of mvc stock for $100 per share; one year later he sold the 10 shares for $130 a sh

are. over the year, the price level increased from 140.0 to 147.0. what is harvey's before-tax real capital gain?
Business
1 answer:
Nonamiya [84]2 years ago
5 0
<span>Harvey purchased 10 shares of mvc stock for = $100 per share
</span><span>one year later he sold the 10 shares for = $130 a share
</span>The price level increased in a year from = 140 to 147
<span>harvey's before-tax real capital gain =
</span><span>$1,300 - $1,000(1.05) but he is to report a $300 gain on his income tax</span>
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