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Partnership has never had an inventory. Jacob finds a buyer and sells his partnership interest for $30,000. The buyer will assume Jacob's share of XJS's

Partnership has never had an inventory. Jacob finds a buyer and sells his partnership interest for $30,000. The buyer will assume Jacob's share of XJS's liabilities. What amount of capital gain or loss does Jacob have from the sale of his partnership interest in XJS?

a) $13,000 capital gain

b) $12,000 capital gain

c) $ 1,000 capital loss

d) $11,000 capital gain

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