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How much is the tax on this transaction before taking

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Reference no: EM132043555

Mimi, who is in the 37% marginal tax bracket, recently sold a rare set of collectible buttons for $1,000,000. Mimi purchased the set 5 years ago for $500,000. How much is the tax on this transaction before taking into consideration the 3.8% Medicare tax?

Reference no: EM132043555

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