Question
Telicia, a single taxpayer, purchased a famous painting for $69,000. Several years later, she sold it for $99,000. Telicias marginal tax rate is 33%. Telicias
Telicia, a single taxpayer, purchased a famous painting for $69,000. Several years later, she sold it for $99,000. Telicia’s marginal tax rate is 33%. Telicia’s gain on the sale of the painting will be taxed at a rate of_______.
A. 28%
B. 25%
C. 20%
D. 15%
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772, 128543952X, 1305177770, 978-1285439525
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