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Mike sold the following assets during the current year: SalesPriceCost Painting$2,500$800 Stampcollection6001,200 Outboardmotor900100 Antiquedesk1,3001,950 Which one of the following amounts represents his taxable capital gain,
Mike sold the following assets during the current year:
SalesPriceCost
Painting$2,500$800
Stampcollection6001,200
Outboardmotor900100
Antiquedesk1,3001,950
Which one of the following amounts represents his taxable capital gain, net of allowable capital losses, for tax purposes during the current year?
$325.
$750.
$650.
$625.
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