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Cory recently sold his qualified small business stock for $90,000 after holding it for 10...

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Accounting

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Cory recently sold his qualified small business stock for $90,000 after holding it for 10 years. His basis in the stock is $40,000. Applying the rules as if the stock were acquired in 2022 and assuming his marginal tax rate is 32 percent, how much tax will he owe on the sale? $14,000 $3,750 None of the choices are correct. $7.000 $7,500 Question 11 3 pts Taxpayers use the half-year convention for all assets. false true

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