Darla Sold an Antique Clock in 2014 for $3,000

question 54

Multiple Choice

Darla sold an antique clock in 2014 for $3,000.She had purchased the clock in 2009 for $2,000.If she is otherwise in the 35% marginal tax bracket,what is the maximum tax rate on the capital gain on the sale of the clock?

• A)5%
• B)15%
• C)28%
• D)20%

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Definitions:

Groupthink

A psychological phenomenon occurring within a group of people, in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Illusion of Invulnerability

An overconfidence bias where a group underestimates risks, leading to over-optimistic decision-making.

Ethical Consequences

The outcomes or impacts on morality and ethical principles resulting from specific actions or decisions.

Ad Hoc Committee

A temporary committee formed for a specific task or objective and dissolved after its completion.