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Inflation has been averaging 2% a year for 6 years. A vacation home that was purchased 6 years ago fo $94,000 was sold for $116,000.

Inflation has been averaging 2% a year for 6 years. A vacation home that was purchased 6 years ago fo $94,000 was sold for $116,000. The sale was subject to a 23% capital gains tax. The effective tax rate based on the nominal value is?

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