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Compute how much is the taxable gain for Jose

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Problem - Upon information from a reliable source that the price of San Miguel shares will drop, Jose requested his broker to sell for him 5000 shares to be covered within a week. The stock broker sold for Jose the 5000 shares at P30 per share. One week later, the San Miguel shares were selling at P20 per share. Jose ordered his broker to purchase for him 5000 shares to cover what he borrowed a week ago. How much is the taxable gain for Jose?

Reference no: EM132655204

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