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Calculate the section 1250 gain and the long-term capital

Mark sold a building on June 15 for $100,000. Mark's income tax rate is 28%. He had acquired the building more than five years earlier for $75,000. Straight-line depreciation taken was $30,000. Calculate the Section 1250 gain and the long-term capital gain. At what rate is each gain taxed.

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Finance Basics: Calculate the section 1250 gain and the long-term capital

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