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Utilizing the information below, analyze and compute the tax impact of the following securities transactions. 1. Susan purchased the SPDR Gold Shares with funds inherited

Utilizing the information below, analyze and compute the tax impact of the following securities transactions.

1. Susan purchased the SPDR Gold Shares with funds inherited from her father several years ago. The original cost was $42,500. The current FMV is $25,000. Suppose the stock climbs suddenly and the Andersons sell all of the SPDR Gold shares for $82,500. What is the tax result of this, and why?

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