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14. Assuming Mickey dies in June this year and Mike inherited his dad's Exxon stock. Also assume that the value of the stock when Mickey

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14. Assuming Mickey dies in June this year and Mike inherited his dad's Exxon stock. Also assume that the value of the stock when Mickey dies is $350,000. If Mike sells the stock before the end of the year for $400,000, which of the following is correct? a. Mike will have a long-term capital gain of $50,000. b. Mike will have a long-term capital gain of $130,000. c. Mike will have a short-term capital gain of $50,000. d. Mike will have a long-term capital gain of $80,000 and a short-term capital gain of $50,000

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