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In 2003 the maximum tax rate on dividends and capital gains is 15% Andrew

 

In 2003, the maximum tax rate on dividends and capital gains is 15%. Andrew, who is in the 35% ordinary income tax bracket, purchased 100,000 shares of stock at $50 per share in January 2003. Dividends of $0.50 per share were paid in April and September. In October, Andrew sole 20,000 shares for $60. At the end of the year, the shares had a market value of $55 per share. The taxes on Andrew’s stock investment in 2003 are

(A) $ 15,000

 

(B) $ 45,000

 

(C) $ 85,000

 

(D) $145,000

 

(E) $225,000

May 28 2018 View more View Less

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