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1.Mike sold the following assets during the current year: Sales PriceCost Painting$2,500$800 Stamp collection6001,200 Outboard motor900100 Antique desk1,3001,950 Which one of the following amounts represents

1.Mike sold the following assets during the current year:

Sales PriceCost

Painting$2,500$800

Stamp collection6001,200

Outboard motor900100

Antique desk1,3001,950

Which one of the following amounts represents his taxable capital gain, net of allowable capital losses, for tax purposes during the current year?

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