On 31 March 1980, Est elle acquired a patent with a 42 -year life at a cost
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On 31 March 1980, Est elle acquired a patent with a 42 -year life at a cost of £21,000. The patent was valued at £22,000 on 31 March 1982 and Estelle sold the patent on 31 March 2018 for £13,000. Compute the chargeable gain.
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The chargeable gain also known as capital gain is the profit made from the sale of a capital asset B...View the full answer
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