How much unrealized tax liabilities will he have

Reference no: EM132208173

Question - Use the following information for the next two questions.

Mark purchased 8,000 shares of Apple stock two years ago at the price of $150 per share. Apple stock is trading at $215 today and will pay a dividend of $3/share with tomorrow being the ex-date. Mark faces an ordinary income tax rate of 35% and a capital gain/ qualified dividend tax rate of 18.8%

Q1. How much tax will Jack owe to the U.S. federal government when he receives the dividend?

A. $3,500

B. $4,512**

C. $6,357

D. $8,400

Q2. How much unrealized tax liabilities will he have after the dividend payment?

A. 48,985

B. 93,248*

C. 173,600

Reference no: EM132208173

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