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Rick recently received 500 shares of restricted stock from his employer,Crazy Corporation,when the share price was $5 per share.Rick's restricted shares vested three years later when the market price was $12.Rick held the shares for a little more than a year and sold them when the market price was $15.What is the amount of Rick's gain on the sale of the stock? Assuming a marginal tax rate of 39.6 percent,what is Rick's tax on the sale of the stock?
Net Income
The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.
Advertising Campaign
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Contribution Margin Ratio
A measure of how a company's sales revenue contributes to covering its variable costs.
Fixed Costs
Expenses that do not change in total volume with changes in the level of business activity, such as rent or salaries.
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