A municipal bond holder buys a 5 percent coupon, annual payment muni bond at a price of
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A municipal bond holder buys a 5 percent coupon, annual payment muni bond at a price of $4,900. The bond has a $5,000 face value. In one year, they sell the bond for $4,975. The appropriate capital gains tax rate is 15 percent and the ordinary income tax rate is 28 percent. what taxes will they pay?
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date: