Essay
Pure Action Cycles Inc., a bicycle manufacturer, has a net capital loss in 2018 of $(64,000). It had net capital gains of $21,500 in 2017, $45,000 in 2016, $10,000 in 2015 (but suffered a net operating loss in 2015), and $8,000 of net capital gain in 2014. What is the net capital gain in 2017 after the carryback is applied?
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