Cory recently sold his qualified small business stock (acquired in 2013) for $90,000 after holding it for ten years.His basis in the stock is $40,000.Assuming his marginal tax rate is 35 percent,how much tax will he owe on the sale?
A) $3,750
B) $7,000
C) $7,500
D) $14,000
E) None of these
Correct Answer:
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