Gilberto invested in a mid-size local company with gross assets of $16,000,000.Gilberto purchased 1,000 shares for $48,000 in 2000.In 2016,Gilberto sold the stock for $78,000.How is the gain treated for tax purposes?
A)$15,000 excluded from gross income under Section 1202 and $15,000 taxed at 28%.
B)$15,000 excluded from gross income under Section 1202 and $15,000 taxed at preferential rates.
C)$15,000 excluded from gross income under Section 1202 with the remaining gain recognized and taxed at regular tax rates.
D)$30,000 capital gain,taxed at preferential rates.

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The Answer of Gilberto invested in a mid-size local company with gross assets of $16,000,000.Gilberto purchased 1,000 shares for $48,000 in 2000.In 2016,Gilberto sold the stock for $78,000.How is the gain treated for tax purposes?
A)$15,000 excluded from gross income under Section 1202 and $15,000 taxed at 28%.
B)$15,000 excluded from gross income under Section 1202 and $15,000 taxed at preferential rates.
C)$15,000 excluded from gross income under Section 1202 with the remaining gain recognized and taxed at regular tax rates.
D)$30,000 capital gain,taxed at preferential rates.

Gilberto Invested in a Mid-Size Local Company with Gross Assets