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On May 3 of This Year, R Called His Broker

question 55

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On May 3 of this year, R called his broker and told him to sell all of R's AZ bonds.R had purchased the bonds for $9,500 several years ago.The bonds have a $10,000 par value, and pay interest at a rate of 10 percent semiannually on June 30 and December 31.Ten days after his call R received a check for $11,000.R should report a capital gain on the sale of $1,500.


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