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Accounting

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Required information
[The following information applies to the questions displayed below.]
Aram's taxable income before considering capital gains and losses is $60,000. Determine Aram's taxable income and how
much of the income will be taxed at ordinary rates in each of the following alternative scenarios (assume Aram files as a
single taxpayer).
c. Aram sold a capital asset that he owned for more than one year for a $2,500 loss, a capital asset that he owned for six months for a
$4,200 gain, and a capital asset he owned for two months for a $300 loss.
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