An Object Is Thrown Vertically into the Air

question 25

Multiple Choice

An object is thrown vertically into the air. In this case air resistance affects motion. Compared with its time for ascent, the time for its descent is

• A)shorter.
• B)the same.
• C)longer.
• D)need more information

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Definitions:

Short-term Capital Loss

A loss realized from the sale or exchange of a capital asset held for one year or less, which can be used to offset capital gains for tax purposes.

Long-term Capital Gain

A profit from the sale of an asset held for more than a year, typically taxed at a lower rate than regular income.

Section 1245

A section of the U.S. Internal Revenue Code that defines the tax treatment of the gain from the sale of depreciable property.

Recapture

A process in which previously deducted or credited amounts are added back to taxable income or tax liability under certain conditions.