As interim CEO of Peterman Corp., Elaine was allowed to purchase 10,000 shares of company stock for $100,000. At that time, the shares were trading for $40 a share, so the acquisition was actually worth $400,000. If Elaine now sells her shares for a total of $600,000, how much gain must she recognize?

Answer rating: 100% (QA)

To calculate Elaines gain you need to subtract her total cost f... View the full answer