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Required information [ The following information applies to the questions displayed below. ] Aram's taxable income before considering capital gains and losses is (

Required information [The following information applies to the questions displayed below.] Aram's taxable income before considering capital gains and losses is \(\$ 66,000\). Determine Aram's taxable income and how much of the income will be taxed at ordinary rates in each of the following alternative scenarios (assume Aram files as a single taxpayer). a. Aram sold a capital asset that he owned for more than one year for a \(\$ 5,120\) gain, a capital asset that he owned for more than one year for a \(\$ 560\) loss, a capital asset that he owned for six months for a \(\$ 1,320\) gain, and a capital asset he owned for two months for a \(\$ 960\) loss.

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