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If a capital asset were purchased on May 9, 2019 and sold on February 24, 2020 for a gain and this were the only capital
If a capital asset were purchased on May 9, 2019 and sold on February 24, 2020 for a gain and this were the only capital asset sold during the year, how would the capital asset be treated? O a. A long-term asset and will be taxed using ordinary income tax rate. Ob. A short-term asset and will be taxed using capital gains rate. O c. A short-term asset and will be taxed using ordinary income tax rate. O d. A long-term asset and will be taxed using capital gains rate
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