18.4 Francis acquired an oil painting for 11,500 in March 1979. He sold the painting for 87,500...
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18.4 Francis acquired an oil painting for £11,500 in March 1979. He sold the painting for
£87,500 in March 2017. Compute the chargeable gain or allowable loss arising on this disposal if the painting's market value on 31 March 1982 was:
(a) £10,000
(b) £15,000
(c) £100,000.
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