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Gene inherited a late model mercedes benz from his great-aunt last year. the auto was...

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Accounting

Gene inherited a late model mercedes benz from his great-aunt last year. the auto was worth $28,000 when his aunt died, and Gene sold the auto two months later for $30,000. the aunt had purchased the auto three months before her death for $38,000. How much gain (or loss) does gene recognize on this sale?

A) $0

B) $2,000

C) ($10,000)

D) $8000

E) None of the above

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