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For the following scenarios: Assume all investors are in a similar tax bracket and will pay the same marginal tax rates for capital gains:Short-TermLong-TermFederal27%14%State6.65%6.65%Bill purchases 25 shares of ABC Corporation at $6 per share. Bill’s online broker charges a commission of $5 for this total trade. Find Bill’s total cost Find Bill’s cost basis per share3 years later, Bill sells all 25 shares of ABC corporation for $14 per shareFind Bill’s profit per shareFind Bill’s Total ProfitFind Bill’s Capital Gain Tax Responsibility for both Federal and StateErin purchases 5000 shares of Apple at $149 per share. Erin uses a full-service broker that charges a commission of $300 for this total trade. Find Erin’s total cost Find Erin’s cost basis per share2 days later, Erin sells all of her 5000 shares of Apple for $156 per shareFind Erin’s profit per share Find Erin’s Total ProfitFind Erin’s Capital Gain Tax Responsibility for both Federal and StatePat purchases 40 shares of Bank of America at $48 per share. Pat’s online broker charges a commission of $0 for this total trade. Find Pat’s total cost basis Find Pat’s cost basis per share2 years later, Pat sells ONLY 15 shares of Bank of America for $57 per shareFind Pat’s profit per shareFind Pat’s total profitFind Pat’s Capital Gain Tax Responsibility for both Federal and State ................
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