In October of the Current Year,Mike Sold a Share of Berkshire-Hathaway

question 64

Essay

In October of the current year,Mike sold a share of Berkshire-Hathaway for $73,000.He had acquired it several years ago at a cost of $38,000.He also sold Microsoft stock he had held for 3 years at a gain of
$17,000.He had a short-term $2,000 loss on the sale of stock of a start-up technical company.He has
$85,000 in taxable income before capital transactions are taken into account.What is the amount of Mike's tax on the capital transactions?

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