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29 January, 08:42

Harvey, a u. s. taxpayer, purchased 10 shares of mvc stock for $100 per share; one year later he sold the 10 shares for $130 a share. over the year, the price level increased from 140.0 to 147.0. what is harvey's before-tax real capital gain?

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  1. 29 January, 08:58
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    Harvey purchased 10 shares of mvc stock for = $100 per share

    one year later he sold the 10 shares for = $130 a share

    The price level increased in a year from = 140 to 147

    harvey's before-tax real capital gain =

    $1,300 - $1,000 (1.05) but he is to report a $300 gain on his income tax
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