Everest Inc

question 768

Multiple Choice

Everest Inc. reports taxable income of $900,000 before considering sales of stock. Everest Inc. sold two stockholdings this year, resulting in a long- term capital gain of $15,000 on stock A and a short- term capital loss of $5,000 on stock B. What is the extra tax that Everest will pay due to the sales of these stocks?

• A) $3,150
• B) $1,500
• C) $2,000
• D) $2,100

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Definitions:

Organic Product

A compound or material derived from living organisms, structured primarily around carbon chains or rings.

Methyl Thioacetate

An organosulfur compound used as a chemical intermediate, characterized by a sulfur atom bonded to an acetyl and a methyl group.

One Carbon Compounds

Organic compounds that contain only one carbon atom, often involved in fundamental biochemical processes.

Ethylene Glycol

A colorless, odorless, syrupy liquid used as antifreeze in cooling and heating systems, and in the manufacture of polyester fibers.