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Determine total taxable capital gain he will need to report

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Question - Mr. Singh purchased the shares of Lightning Inc. over the years. Below is the information relating to these shares:

February 2016 Purchase 100 shares @ $20/share

November 2017 Purchase 90 shares @ $28/share

April 2018 Purchase 100 shares @ $30/share

October 2018 Sale 75 shares @ $35/share

September 2020 Purchase 100 shares @ $27/share

November 2021 Sale 120 shares @ $40/share

Required -

a) What is the cost/share of the Lightning Inc. shares that Mr. Singh sill holds on December 31, 2021?

b) Determine total taxable capital gain he will need to report on his 2021 tax return.

Reference no: EM133054087

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