Company is planning on repurchasing

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The Barryman Drilling Company is planning on repurchasing ?$1.03 million worth of the? company's 490000 shares of? stock, which is currently trading at a price of ?$10.28 per share. Stan Barryman is the founder of the company and still holds 13000 shares of company stock that he originally purchased for ?$8.32 per share. If Stan decides to sell 2,400 of his shares for ?$10.28 a? share, what will be his? after-tax proceeds where capital gains are taxed at15 ?percent?

Reference no: EM131543627

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