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Kirby Is in the 15% Tax Bracket and Had the Following

Question 108

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Kirby is in the 15% tax bracket and had the following capital asset transactions during 2014:
 Long-term gain from the sale of a coin collection $11,000Long-term gain from the sale of a land investment 10,000 Short-term gain from the sale of a stock investment 2,000\begin{array}{llr} \text { Long-term gain from the sale of a coin collection } &\$11,000\\ \text {Long-term gain from the sale of a land investment } &10,000\\ \text { Short-term gain from the sale of a stock investment } &2,000\end{array}

Kirby's tax consequences from these gains are as follows:
A) (5%×$10,000)+(15%×$13,000) (5 \% \times \$ 10,000)+(15 \% \times \$ 13,000)
B) (15%×$13,000)+(28%×$11,000) (15 \% \times \$ 13,000)+(28 \% \times \$ 11,000)
C) (0%×$10,000)+(15%×$13,000) (0 \% \times \$ 10,000)+(15 \% \times \$ 13,000) .
D) (15%×$23,000) (15 \% \times \$ 23,000) .
E)None of the above

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