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In 2007, Duncan purchased 2,000 shares of stock for $62,500 in a midsize local company with gross assets of $15,000,000. In 2020, Duncan sold the

In 2007, Duncan purchased 2,000 shares of stock for $62,500 in a midsize local company with gross assets of $15,000,000. In 2020, Duncan sold the stock for $78,000. How is the gain treated for tax purposes?

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