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QUESTION
Jennifer and Todd are in the 25% marginal tax bracket. 3 years ago they purchased 100 shares of stock at $20 per share. In 2015 they sold the 100...
Jennifer and Todd are in the 25% marginal tax bracket. 3 years ago they purchased 100 shares of stock at $20 per share. In 2015 they sold the 100 shares for $29 a share. What is the amount of federal income tax they owe as a result of the sale?
a. 435
b. 225
c. 165
d. 135
