Leon purchased 8,500 shares of stock at a price of $11.45 a share. he sold the stock six years later at a price of $19.78 per share. his capital gain is about 58%.
true or false

False

Step-by-step explanation:

We are given that

Leon purchased shares=8500

Cost of 1 share=$11.45

Selling price of 1 share=$19.78

His capital gain=58%

We have to find it is true or false.

Cost of 8500 shares=$97325

Selling price of 8500 shares==$168130

Profit=S.P-C.P=168130-97325=$70805

Profit %=

Profit %=72.75%=73%

Hence, his capital gain is about 73% not 58%

False