An investor purchased $100,000 in a 5-year index-linked guaranteed investment certificate (GIC) in a non-registered account. The GIC matured at $110,000. Assuming he is in a 26% marginal tax bracket, how much income tax is owed in the year of maturity?

Answer rating: 100% (QA)

The investor earned a capital gain of 110000 100000 10000 on th... View the full answer