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Beverly purchased a piece of land for $10,000 in 1999. In the current year, Beverly...

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Accounting

Beverly purchased a piece of land for $10,000 in 1999. In the current year, Beverly sold the land in an arms length transaction for $18,000. What is the gain on the transaction? Assuming the proper tax rate for this transaction is 15%, how much tax does Beverly owe on the transaction?

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