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Yousef sold the following assets used in his business during 2 0 2 4 : Office equipment, purchased for $ 1 6 , 0 0
Yousef sold the following assets used in his business during :
Office equipment, purchased for $ had a zero basis. The automobile was purchased for $ and sold for $ The XYZ stock was purchased for $ and sold for $ In the
year of the sale, Yousef should report what amount of net capital gain and net ordinary income?
a $ LTCG and $ ordinary loss.
b None of the choices presented are correct.
c $ LTCG and $ ordinary gain.
d $ LTCG
e $ LTCG and $ ordinary gain.
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