$350✔ $346.25$450

Question

$350✔ $346.25$450

Revolt · Accepted Answer

✔ $346.25; 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

Principles of Investment

$350✔ $346.25$450

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