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Jacobmakes the following purchases of shares of Initech, a public Canadian company: 1/1/2001: 80shares,...

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Accounting

Jacobmakes the following purchases of shares of Initech, a public Canadian company:

  • 1/1/2001: 80shares, $35each
  • 1/1/2005: 220shares, $60each
  • 1/1/2010: 390shares, $15.50each

The shares are capital assets to Jacob. Jacobsells 80shares during the current taxation year and receives proceeds from the sale of $9 comma 000

  1. $0
  2. $6 200
  1. $6 444
  1. $4 800

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