Principles of Investment

Question 122592 • TX-Personal Financial Literacy and Economics

Question text not available

Answer

The state tax Patrick must pay on the initial profit is .:

$346.25

The federal tax he must pay on the initial profit is .:

$1,731.25

The inflation on the amount remaining after taxes is .:

$145.43

As a result, the real value of Patrick’s profit in whole dollars is .:

$4,702

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