Nate Sold Two Securities in 2019 Nate Has a 24% Marginal Tax Rate

question 82

Multiple Choice

Nate sold two securities in 2019: $$\begin{array} { | l | c | c | r | r | } \hline & \text { Purchased } & { \text { Sold } } & \text { Sales Price } &{ \text { Basis } } \\\hline \text { MASH } & 1 - 1 - 2018 & 5 - 10 - 2019 & \$ 12,000 & \$ 10,000 \\\hline \text { KMZ } & 12 - 2 - 2018 & 9 - 22 - 2019 & \$ 4,000 & \$ 5,000 \\\hline\end{array}$$ Nate has a 24% marginal tax rate.What is the additional tax resulting from the above sales?

• A)$150
• B)$240
• C)$60
• D)$300

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Definitions:

Food Retailers

Businesses that sell food directly to consumers, including supermarkets, grocery stores, and specialty food shops.

General Merchandise Retailers

Retail stores that sell a wide variety of products across different categories, often including clothing, home goods, and food items.

Exclusive Distribution

A distribution strategy where a supplier grants the rights to sell its products to only one retailer or a select few within a particular territory.

Selective Distribution

A marketing strategy where products are sold at a limited number of outlets, targeting specific channels or geographic areas.