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Donna a si gle taxpayer purchase an antique rug for $20,000 on April 1, 2015. On November 8, 2018, she sold the rug for $25,000.
Donna a si gle taxpayer purchase an antique rug for $20,000 on April 1, 2015. On November 8, 2018, she sold the rug for $25,000. Donna's 2019 taxable income is $185,000 so her marginal tax rate is 32%. Donna's gain on the sale of the rig will be taxed at a rate of:
A. 15%
B. 20%
C. 28%
D. 32%
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