Antonio Is Single and Has Taxable Income of $170,000 Without

question 97

Multiple Choice

Antonio is single and has taxable income of $170,000 without considering the sale of a capital asset (land held for investment) in September of 2019 for $25,000.That asset was purchased six years earlier and has a tax basis of $5,000.The tax liability applicable to only the capital gain (without consideration of any additional Medicare tax) is

• A)$3,750.
• B)$3,000.
• C)$6,400.
• D)$4,000.

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Definitions:

Retentive

The term Retentive in the context of PLC programming refers to memory or instructions that maintain their status or value even after the PLC is powered off or reset.

Pressure Switch

A device that makes or breaks an electrical connection in response to a change in pressure.

Selector Switch

A control device with multiple positions that allows the user to select different functions or settings.

Limit Switch

A device used to detect the presence or absence, passing, or end position of an object by making or breaking an electrical connection.