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This is for 2018 tax prep for 2017 tax year 25. In October of the current year, Mike sold a share of Berkshire-Hathaway for $73,000.

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This is for 2018 tax prep for 2017 tax year

25. In October of the current year, Mike sold a share of Berkshire-Hathaway for $73,000. He had acquired it several years ago at a cost of $42,000. He also sold Microsoft stock he had held for 3 years at a gain of $17,000. He had a short-term $2,000 loss on the sale of stock of a start-up technology company. He has $85,000 in taxable income before capital transactions are taken into account If Mike is single with no dependents, what is the amount of Mike's tax on the capital transactions

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