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Julie operates a renowned fast food restaurant (soups and bagels) called Super Soupe. At the start of the year, the balance of his cumulative eligible
Julie operates a renowned fast food restaurant (soups and bagels) called Super Soupe. At the start of the year, the balance of his cumulative eligible capital assets account was $13,000. Over the years, she deducted eligible capital assets amounts of $4,600 from her business income. Julie has just sold an unlimited franchise of Super Soup for $60,000, and had to assume incidental sales costs of $3,000. How much will Julie's taxable income increase as a result of the sale? 0 a) $4,600 0 b) $16,767 0c) $19,833 O d) $21,367
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