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I need the computation for the following: 9. Jayne purchased General Motors stock 6 years ago for $20,000. In 2012, she sells the stock for
I need the computation for the following:
9. Jayne purchased General Motors stock 6 years ago for $20,000. In 2012, she sells the stock for $35,000. What is Jaynes gain or loss?
a. $ 15,000 long- term
b. $ 15,000 short-term
c. $ 15,000 ordinary
d. $ 15,000 extraordinary
e. No gain or loss is recognized on this transaction
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