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In 2 0 2 0 , Lois purchased a painting for $ 5 , 0 0 0 at a local art gallery. She decided to

In 2020, Lois purchased a painting for $5,000 at a local art gallery. She decided to sell the painting in 2024 and finds a buyer willing to pay $12,000. What is the maximum capital gains rate and maximum amount she may owe?A.22% capital gains rate and $1,540 owedB. 24% capital gains rate and $1,680 owed C.26% capital gains rate and $1,820 owedD. 28% capital gains rate and $1,960 owed

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