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Roberto acquired his rental property 10 years ago for $110,000 and sold it in the current year for $230,000. The accumulated straight-line depreciation on the
Roberto acquired his rental property 10 years ago for $110,000 and sold it in the current year for $230,000. The accumulated straight-line depreciation on the property at the time of the sale was $35,000. Roberto is in the 32 percent tax bracket for ordinary income The long term capital gain tax on this transaction is what amount?
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