Shawn daily was given a gift of giggle stock by his uncle, Ask an Expert

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Shawn Daily was given a gift of Giggle stock by his uncle several years ago at a price of $41.50 per share. Giggle sells today for $68.75 per share. Shawn is taxed on capital gains at the rate of 15%, and is taxed on dividends at the rate of 29%. Shawn uses the dividends from Giggle to meet certain expenditures, and is disappointed to learn that Giggle will forego a dividend this year. To counteract the decision by Giggle, Shawn sells 21 shares of Giggle stock. How much of the total amount of proceeds from those shares will Shawn get to keep?

$________

Place your answer in dollars and cents without a comma or dollar sign.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92752476

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