Neco 2019 Commerce Question 14

An investor buys shares of XYZ Ltd on the Nigerian Stock Exchange in three separate transactions: (i) 200 shares at \(\text{₦}1,250\) each with a brokerage commission of \(0.5\\%\) of the transaction value; (ii) 150 shares at \(\text{₦}1,300\) each with the same commission rate; (iii) 250 shares at \(\text{₦}1,280\) each with the same commission rate. Later the investor sells 400 shares at \(\text{₦}1,350\) each, paying a \(0.5\\%\) commission on the sale and a capital gains tax of \(10\\%\) on the profit before tax. The remaining 200 shares are still held. Determine the investor's net profit (in naira) after accounting for all commissions and the capital gains tax on the sale.