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Hootie purchased a $3,000 bond for $2,115 when it was issued three years ago. They amortized $300 of the original issue discount and then sold
Hootie purchased a $3,000 bond for $2,115 when it was issued three years ago. They amortized $300 of the original issue discount and then sold the bond for $2,700. Which of the following statements is correct? a. Hootie has no capital gain or loss. b. None of the choices presented are correct. c. Hootie has $285 of long-term capital gains. d. Hootie has $285 of long-term capital loss. e. Hootie has $15 of long-term capital loss
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