at the market value for each commodity exchanged;
- Assuming the pirated work has $0 value. Could be in for a world of ~~hurt~~ arbitration if some valuable gems slipped through his hands as pure income.
- As capital losses would "cancel" gains, simplif-- Wait. Is the printing accomplished by manufacturing, trade or theft...
as a the difference between the initial investment and final cash out; (10%)
- sugar sales - printing costs = income
as a compound factor built from the number of exchanges/trades and applied to the final cash-out; (34.4%)
- 1 - (1 - tax rate)^exchanges = 1 - (1 - 0.1)^4
  
  .. Having done some quick searches; I'm now wondering if the grocer is exploiting this guy to supply a niche/online sea-shell market, and/or if India hadn't cracked down on pirate printers would he have enough money to have "commercially" bound-copies of the book instead. (Single copies of out-of-print textbooks were about $7 incl shipping, less with class-sized pun redacted orders.)
  
  data + link walk

asked Google "distance Pensacola Tampa Florida straight line" ^(link removed)
- 333.97mi (537.47km)
searched e-bay for "50 sea shells" within 500 km of Tampa, FL 33602 ^(link removed)
- >
  
  >||||
  >|-:|-:|-:|
  >|C $1.32|Dog Whelk|(lot of 50)|
  >|C $3.32|Kitten Paw|(lot of 50)|
  >|C $5.32|Pikaki|(lot of 50)|
  >|C $13.33|Mixed|(lot of 50)|
  >|C $33.32|Tiger Cowrie|(lot of 50)|
  >|C $19.98|Pearl Albalone|(lot of 50)|
  >|C $113.27 ~$17.31|Graded sample|(single piece)|
https://www.amazon.com/Florida-Crystals-Organic-Sugar-Pound/dp/B00489VIVY
- C $11.88 for 3.47 lbs
https://en.wikipedia.org/wiki/Category:Taxation_in_the_United_States
- https://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
- https://en.wikipedia.org/wiki/Ordinary_income

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Reddit mentions of Florida Crystals Organic Cane Sugar Jug, 3 Pound