(Stock repurchase and taxes) The Barryman Drilling Company is planning on repurchasing $1.12 million worth of the company's 490,000 shares of stock, which is currently trading at a price of $11.16 per share. Stan Barryman is the founder of the company and still holds 16,000 shares of company stock that he originally purchased for $8.35 per share. If Stan decides to sell 2,100 of his shares for $11.16 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Stan's after-tax proceeds from the sale are $ ... (Round to the nearest dollar.)

(Stock repurchase and taxes) The Barryman Drilling Company is planning on repurchasing $1.12 million worth of the company's 490,000 shares of stock, which is currently trading at a price of $11.16 per share. Stan Barryman is the founder of the company and still holds 16,000 shares of company stock that he originally purchased for $8.35 per share. If Stan decides to sell 2,100 of his shares for $11.16 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Stan's after-tax proceeds from the sale are $ ... (Round to the nearest dollar.)

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter7: Corporations: Reorganizations

Section: Chapter Questions

Problem 44P

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