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Charlene purchased a business some years ago for $25,000. She recently sold her shares in the business--a qualified small business corporation--for proceeds of $400,000. This
Charlene purchased a business some years ago for $25,000. She recently sold her shares in the business--a qualified small business corporation--for proceeds of $400,000. This transaction marked the first time Charlene has made use of the lifetime capital gains exemption. Based on a lifetime exemption of $883,384, how much more in taxable capital gains will Charlene be able to shelter should she dispose of additional qualified captial properties? O a) $254,192 O b) $0 O c) $508,384 O d) $695,884
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