Everest Inc

question 34

Multiple Choice

Everest Inc.is a corporation in the 35% marginal tax bracket.It 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)$3,500
• B)$1,500
• C)$2,250
• D)$5,250

---

Definitions:

Sovereign

A supreme ruler, especially a monarch, or relating to a nation's independent authority and right of self-governance.

Public Works

Projects and activities financed and undertaken by the government aimed at providing public goods and infrastructure, such as roads, schools, and water systems.

Public Institutions

Organizations established and funded by the government to provide services to the public, such as schools and hospitals.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s in response to the Great Depression.