College Math

posted by .

Mary buys $32,000 worth of gold, and sells it a year later for $41,000. If she is required to pay 23% capital gains tax on her profit, how much tax will she pay?

  • College Math -

    The profit is $41,000 - $32,000. Multiply this by 23%.

  • College Math -

    .2070%

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Macroeconomics

    Kelly purchased ten shares of Gentech stock for $200 in year 1 and sold all the shares in year 2 for $220 a share. Between year 1 and year 2, the price level increased by 5%. The tax on capital gains is 50%. If the capital gains tax …
  2. Macroeconomics

    1). Kelly purchased ten shares of Gentech stock for $200 in year 1 and sold all the shares in year 2 for $220 a share. Between year 1 and year 2, the price level increased by 5%. The tax on capital gains is 50%. If the capital gains …
  3. I need HELP bad! Macroeconomics!

    1). Kelly purchased ten shares of Gentech stock for $200 in year 1 and sold all the shares in year 2 for $220 a share. Between year 1 and year 2, the price level increased by 5%. The tax on capital gains is 50%. If the capital gains …
  4. Finance

    The glenna gayle company (GGC) had sales of $400,000 in the past year, with operating expenses of $210,000 and cost of goods sold of $70,000. Interest expense was $30.000, and $10,000 in common stock dividends were received. The company …
  5. ECONOMICS

    Suppose you are a typical person in the U.S. economy. You pay 4 percent of your income in state income tax and 15.3 percent of your labor earnings in federal payroll taxes (employer and employee shares combined). You also pay federal …
  6. Public Finance

    A corporation has $7 mil. in equity. During the tax year it takes in $4 million in receipts and earns $ 2 million in capital gains from sale of subsidiary. It incurs labor costs of $1 million, interest costs of $250,000, material costs …
  7. tax accounting

    bruce wilson won 2 million in the state lottery. the lottery pays out the prize money in 20 annual installments of 100,000 each. After receiving three 100,000 installments, bruce sold the remaining 1.7 million of payments for 1 million. …
  8. income tax

    How much approximately would I pay in income tax in canada on $500,000.00 on stock profit in one year. I will have no other expenses to declare
  9. Math

    The annual real estate tax on a duplex house is $20,985 and the owner sells the house after 7 months of the tax year. How much of the annual tax will the seller pay?
  10. accounting

    . Preference Decisions: NPV vs. IRR vs. Profitability Index Stephens Industries is contemplating four projects: Project P, Project Q, Project R, and Project S. The capital costs and estimated after- tax net cash flows of each project …

More Similar Questions