Question: Current Attempt in Progress More than a year ago, Gary purchased 330 shares of Stock A for $5 per share and 45 shares of Stock

Current Attempt in Progress More than a year ago, Gary purchased 330 shares of Stock A for $5 per share and 45 shares of Stock B for $25 per share. During the current tax year, he sold the Stock A shares for $8 per share and the Stock B shares for $20 per share. Neither stock paid any dividends. How much will he owe in capital gains tax, assuming he is in the highest marginal tax bracket for federal income taxes and that the applicable capital gains tax rate is 20 percent.

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