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On 31 December 2017 Stuart acquired a stereo sound system for $20,000. Stuart borrowed $15,000 of the money from Witch Bank. The loan was a
On 31 December 2017 Stuart acquired a stereo sound system for $20,000. Stuart borrowed $15,000 of the money from Witch Bank. The loan was a fixed interest loan on which Stuart paid interest of $8,000. Stuart sold it in April 2018 for $45,000
. Required: Calculate the Net Capital Gain, if any, to be included in Stuarts assessable income.
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