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A taxpayer dispose of an asset by gift with a Cost base of 50,000 SR. The market value of those assets at the time

A taxpayer dispose of an asset by gift with a Cost base of 50,000 SR. The market value of those assets at the time of disposal is 70,000 SR. Required: What is gain or loss on the asset disposed of and determine whether or not the gain taxable and the loss deductible?

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