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babunello [35]
2 years ago
3

Patrick has successfully invested in a growing tech company. Three years ago he invested $10,000 in the company through a broker

. Now he has decided to sell his stock. The value of his stock is now at $17,000. Here are the taxes and fees associated with his investment: Annual brokerage fee: $25 State tax: 5% of profit Federal tax: 25% of profit Inflation rate: 1% per year The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a result, the real value of Patrick’s profit is .
Mathematics
2 answers:
Papessa [141]2 years ago
8 0

Answer:

The state tax Patrick must pay on the initial profit is $350.

The federal tax he must pay on the initial profit is $1,750.

The inflation on the amount remaining after taxes is $147.

As a result, the real value of Patrick’s profit is $4,678.

Step-by-step explanation:

I just took the assignment! Have a nice day and stay safe!!

Murljashka [212]2 years ago
7 0

Answer:

$350

$1,750

$147

$4,678

Step-by-step explanation:

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