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Over the last six months, Rabin acquired the following assets: an engagement ring that cost $8,000 an antique ceramic vase (for $4,000 ), a painting
Over the last six months, Rabin acquired the following assets: an engagement ring that cost $8,000 an antique ceramic vase (for $4,000 ), a painting (for $11,000 ), a Television (for $12,000 ), National Bank's shares (for $5,000 ). Last week he sold these assets as follows: an engagement ring that cost $9,000 an antique ceramic vase (for $2,000 ), a painting (for $5,000 ), a Television (for $8,000 ) and Australia Bank's shares (for $25,000 ) Required: Calculate his net capital gain or net capital loss for the year. (Maximum 300 words)
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