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04-01-2024
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Ontario Co. had some excess cash and wished to invest in some shares, so the company purchased 1,000 shares of Investco on July 10, 20X4, for $23 per share. Brokerage fees amounted to $450 for the purchase. The shares were trading at $25 per share on December 31, 20X4. Assume that Ontario Co.'s management designates the shares as FVTOCI, and its tax rate is 30%.

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