William Purchased 10,000 Shares of Stock for $10 Per Share

William purchased 10,000 shares of stock for $10 per share late last month.Due to a proposed hostile takeover of the company,the stock has jumped in price to $16 per share.If he holds the stock for at least a full year,he believes the price will decline to $14 per share but he will be eligible for the 15 percent long-term capital gains rate for his gain.If he sells now,his gain will be subject to his 33 percent marginal tax rate.Should William sell now or wait one year? Use a one-year present value factor of .909 in your evaluation.