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3. On 31 December 1998 , Musab bought a painting at a cost of 6000 when its market value was 4500. It had an estimated

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3. On 31 December 1998 , Musab bought a painting at a cost of 6000 when its market value was 4500. It had an estimated useful life of 55 years, and an estimated residual value of 1000. Musab sold the asset for 88485 on 31 st December 2021 . Calculate the taxable capital gain arising on the sale of the mentioned asset. ( 3 marks)

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