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Alec bought his principal residence for $175,000 on June 5, 2015. He sold it on July 18, 2016, for $205,000. Assuming no adjustments to basis,

Alec bought his principal residence for $175,000 on June 5, 2015. He sold it on July 18, 2016, for $205,000. Assuming no adjustments to basis, what is the amount and character of Alec's gain

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