Mr. Lewis bought 650 shares of stocks in Garrett Corp. the previous year at a price of $19 per share. The market price has now risen to $25 per share. This result indicates that Mr. Lewis could receive a capital gain if he sells his stock.

Question

Quizplus · Accepted Answer

A capital gain occurs when the selling price of an asset is higher than its purchase price. Mr. Lewis bought the shares at $19 each and the current market price is $25, indicating a potential capital gain if he sells.

Mr Lewis Bought 650 Shares of Stocks in Garrett Corp