Amanda,whose Tax Rate Is 32%,has NSTCL of $25,000,a $30,000 LTCG

question 63

Multiple Choice

Amanda,whose tax rate is 32%,has NSTCL of $25,000,a $30,000 LTCG from sale of a rare coin held 15 months and a $18,000 LTCG from the sale of stock held for three years.By what amount will Amanda's tax liability increase?

• A)$3,450
• B)$4,100
• C)$5,880
• D)$4,300

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Definitions:

Shallow Coastal Waters

Areas near the shore in oceans and seas where the water depth is relatively low, supporting diverse ecosystems.

Vertebrate Evolution

The process of change and diversification in vertebrates over time, leading to the current diversity of species with backbones.

Lobe-Finned Fish

A class of fish known for having fleshy, lobed, paired fins, which are precursors to the limbs of terrestrial vertebrates.

Amniotic Egg

Egg that has an amnion, as seen during the development of reptiles (including birds) and mammals.