Essay
Pure Action Cycles Inc., a bicycle manufacturer, has a net capital loss in 2019 of $(64,000). It had net capital gains of $21,500 in 2018, $45,000 in 2017, $10,000 in 2016 (but suffered a net operating loss in 2016), and $8,000 of net capital gain in 2015. What is the net capital gain in 2018 after the carryback is applied?
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