Amanda,whose Tax Rate Is 33%,has NSTCL of $25,000,a $30,000 LTCG

question 29

Multiple Choice

Amanda,whose tax rate is 33%,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)$6,440
• D)$7,340

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Definitions:

Equilibrium

A situation in the market where demand and supply balance out, causing prices to remain stable.

Quantity Supplied

The total amount of a good or service that producers are willing to sell at a given price over a specific period.

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a given price.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at different prices.