Essay
Pure Action Cycles Incorporated, a bicycle manufacturer, has a net capital loss in 2020 of $(72,000). It had net capital gains of $23,300 in 2019, $49,000 in 2018, $10,800 in 2017 (but suffered a net operating loss in 2017), and $8,800 of net capital gain in 2016. What is the net capital gain in 2019 after the carryback is applied?
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