Three years ago, Suzanne bought a new personal automobile for $26,900. This year, she sold it for $19,000. What is the amount and character of Suzanne's gain or loss?
A) No gain or loss recognized on the sale of a personal asset.
B) $19,000 long-term capital gain.
C) $7,900 ordinary loss.
D) $7,900 long-term capital loss.
Correct Answer:
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