Solution-What amount of income tax will he pay on this

What amount of income tax will he pay on this capital gain

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Question - Dalton invests in a variety of mutual funds. On December 5th he purchased 10,000 shares, outside his RRSP, in a no-load mutual fund that had a current net asset value per share of $12. On December 15th, the fund paid out capital gains of $2 per share. If Dalton has a marginal tax rate of 50%, what amount of income tax will he pay on this capital gain?

1-$0

2-$5,000

3-$6,667

4-$10,000

Reference no: EM133099936

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What amount of income tax will he pay on this capital gain

Reference no: EM133099936

Reference no: EM133099936

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