Jacob makes the following purchases of shares of Initech, a public Canadian company: 1/1/2001: 85...

 

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Jacob makes the following purchases of shares of Initech, a public Canadian company: • 1/1/2001: 85 shares, $20 each 1/1/2005: 230 shares, $60 each 1/1/2010: 380 shares, $16.50 each . The shares are capital assets to Jacob. Jacob sells 85 shares during the current taxation year and receives proceeds from the sale of $10,000. How much is Jacob's gross capital gain on the sale? Choose the correct answer. (Round to the nearest dollar.) OA. $0 OB. $7,337 OC. $5,100 OD. $8,300 Jacob makes the following purchases of shares of Initech, a public Canadian company: • 1/1/2001: 85 shares, $20 each 1/1/2005: 230 shares, $60 each 1/1/2010: 380 shares, $16.50 each . The shares are capital assets to Jacob. Jacob sells 85 shares during the current taxation year and receives proceeds from the sale of $10,000. How much is Jacob's gross capital gain on the sale? Choose the correct answer. (Round to the nearest dollar.) OA. $0 OB. $7,337 OC. $5,100 OD. $8,300

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