Darla Sold an Antique Clock in 2018 for $3,000

question 1747

Multiple Choice

Darla sold an antique clock in 2018 for $3,000. She had purchased the clock in 2009 for $2,000. If she is otherwise in the 32% marginal tax bracket, what is the maximum tax rate on the capital gain on the sale of the clock?

• A) 25%
• B) 15%
• C) 32%
• D) 28%

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Definitions:

Jim Crow

Refers to the laws and customs enforced in the southern United States post-Reconstruction until the 1960s, aimed at segregating and discriminating against African Americans.

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A key U.S. military leader during World War II who served as Army Chief of Staff and later as Secretary of State, developing the Marshall Plan to rebuild Europe's economy.

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