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Murray (Age 68,single)sold His Home Owned for 35 Years So

Question 6

Multiple Choice

Murray (age 68,single) sold his home owned for 35 years so that he could relocate to a place that is closer to where his grandchildren live.He realized a $400,000 capital gain on the home.Murray's tax liability on capital gain is computed on _____.


A) $400,000
B) $300,000
C) $250,000
D) $150,000
E) $0

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