In 2010, Joe bought 200 shares in the Nikon corporation for $22.07 per share. In 2016 he sold the shares for $15.11each.
1 answer:
Answer: a. $1392
b. 31.5%
Step-by-step explanation:
a. What was Joe's capital loss?
Cost price = $22.07 × 200 = $4414
Selling price = $15.11 × 200 = $3022
Capital loss = $3022 - $4414
= -$1392
b. Express Joe's capital loss as a percent, rounded to the nearest percent.
= Capital loss/Cost price × 100
= 1392/4414 × 100
= 31.5%
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