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Homework Answers
Solution:
a.
| Calculation Of Adjusted Basis | |
| Particulars | Amount |
| Shares | 2050 |
| Purchase Price Per Share | $51 |
| Purchase Price (2050 Shares x $51) | $104550 |
| Commission | $750 |
| John's Adjusted Basis | $105300 |
b.
| Calculation Of Realization Amount | |
| Particulars | Amount |
| Shares | 2050 |
| Sale Price Per Share | $74 |
| Sale Price (2050 Shares x $74) | $151700 |
| Transaction Fee | ($1000) |
| Amount Realized | $150700 |
c-1.
| Calculation Of Gain On Sale | |
| Particulars | Amount |
| Amount Realized | $150700 |
| John's Adjusted Basis | $105300 |
| Gain (Long-Term Gain Because Of Holding Shares More Than 1 Year) | $45400 |
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