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Melinda sold mutual fund shares, which she had owned for 5 years, so that she could use the proceeds to travel with her sister.
Melinda sold mutual fund shares, which she had owned for 5 years, so that she could use the proceeds to travel with her sister. Melinda is in the 32% ordinary tax bracket, and her capital gains from the sale were $40,000. Melinda's tax liability on the gain is: A. $10,500. B. $8,400. OC. $6,000. D. $4,500. E. $1,500.
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Auditing An International Approach
Authors: Wally J. Smieliauskas, Kathryn Bewley
6th edition
978-0070968295, 9781259087462, 978-0071051415
