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How much FEDERAL tax will Jill pay on the CAPITAL GAIN

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Reference no: EM132636453

Problem - Jill purchased 100 shares of Acorn Inc at a price of $6.00 per share in January, 2019. She sold the 100 shares at a price of $9.00 in March, 2020. Jill reports $55,000 of income from employment. How much FEDERAL tax will Jill pay on the CAPITAL GAIN from selling the Acorn shares?

a. $23.10

b. $30.75

c. $61.50

d. $11.55

e. $22.50

Reference no: EM132636453

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