Waec Model Questions Vol1 2024 Commerce Question 45

An investor holds shares of two companies. - Company X: 100 shares bought at ₦250 each, commission 2 % of the purchase value. - Company Y: 150 shares bought at ₦180 each, commission 2 %. After six months Company X pays a cash dividend of ₦10 per share, which the investor immediately reinvests to buy more X shares at the market price of ₦260, paying the same 2 % commission on that purchase. Company Y issues a 5 % stock dividend (i.e., the investor receives additional shares equal to 5 % of the existing holding) with no cash transaction. One year after the initial purchase the investor sells all remaining shares of X at ₦300 each and all shares of Y at ₦190 each, paying a 2 % commission on each sale. Capital gains tax of 15 % is levied on the net profit (dividends are excluded from tax). Determine the net profit after tax, rounded to the nearest naira.