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Assume Mickey (Mike's dad) dies in June this year and Mike inherits his dad's Exxon stock, which is worth $350,000 at the time of his

Assume Mickey (Mike's dad) dies in June this year and Mike inherits his dad's Exxon stock, which is worth $350,000 at the time of his death. If Mike sells the stock before the end of the year for $400,000, then what are the tax consequences?

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