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Egmont has a $58,000 recognized gain on Section 1245 property with related depreciation of $37,000. How much of the gain will be taxed at long-term

Egmont has a $58,000 recognized gain on Section 1245 property with related depreciation of $37,000. How much of the gain will be taxed at long-term capital gain rates?

A)$37,000 B)$58,000 C)$21,000 D)$0

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