Calculate the total cost, proceeds, total gain or loss, and return on investment for the mutual fund investment assuming it is held for one year. The offer price is the purchase price of the shares and the net asset value is the price at which the shares were later sold (round return on investment to the nearest tenth):
Net
Total
Asset
Per
Gain
Return
Offer
Total
Value
Share
(or
on
Shares
Price
Cost
(NAV)
Proceeds
Dividends
Loss)
Investment
200
$12.50
$13.90
$0.95
What will be an ideal response?
$2,500; $2,780; $470; 18.8%
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Lucky Louie earned $100,000 salary this year, had total itemized deductions of $10,000, one personal exemption equal to $4,000 and interest income of $3,000
Louie, was not so lucky in the stock market however and had capital losses of $8,000. What was Lucky Louie's taxable income? A) $86,000 B) $81,000 C) $89,000 D) $90,000
Why is the difference between gross pay and taxable income important?
What will be an ideal response?
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