Caffrey obtained an antique 12 years ago for 3000000 he, Financial Management

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Caffrey obtained an antique 12 years ago for 3000000 he

Caffrey obtained an antique 12 years ago for $3,000,000. He recently sold it to a private collector for $17,000,000. Assuming that his personal income tax rate is 35% and the capital gains tax rate is 20%, how much tax will he be required to pay on this transaction?

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Financial Management: Caffrey obtained an antique 12 years ago for 3000000 he

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