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please answer with the solution breakdown An individual tax payers's marginal tax rate is 37 percent, and his taxable income exceeds the maximum 15% rate
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An individual tax payers's marginal tax rate is 37 percent, and his taxable income exceeds the maximum 15% rate amount for the 0/15/20% preferential tax rate income. If he holds the following assets for more than one year, which gain would be taxed at the highest tax rate if he sells that property?
a) Gain from sale of stock
b) Gain from sale of investment land
c) Gain from sale of coin collection
d) Gain attributed to depreciation recaptured on sale of depreciable real property
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