Question 68 of 75. In June 2017, Bill, a single taxpayer, purchased a home for $187.000. Later that year, he added a new room at a cost of $28,400. In May 2018, he sold the house for $473,000. The home served as his primary residence for the entire Ume that he owned it. Bill's taxable gain on the sale is o $7,600 O $257.600 O $286,000 Mark for follow up Question 26 of 75. A refundable credit reduces the taxpayer's O Income before determining tax liability. O Tax liability, and may even exceed the tax liability Income before determining tax liability, and may even increase the refund. O Tax liability, but may not exceed the tax liability Mark for follow up