What will be larry capital gain or loss


Question: Larry has been an active postage-stamp collector for a number of years. A few years ago, he bought a rare U.S. postage stamp for $2,500. He has now decided to sell the stamp. If he sells it at an auction and receives $3,000 but pays a 20% sales commission on the amount received, what will be Larry's capital gain or loss? Question Options: Capital gain of $500. Capital loss of $100. Capital gain of $100. Capital loss of $400.Which of the following is the recommended targeted savings rate if you are under age 30? Question options: 10%. 12%. 15%. 20%.

 

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Accounting Basics: What will be larry capital gain or loss
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