Problem on capital gains-magma corporation

Reference no: EM13819052

Problem: Capital Gains-Magma Corporation

In 20x9, Magma Corp. disposed of two investments. Stock A was sold for $500,000 and cost $345,000. Stock B was purchased for $195,000 and was sold for $150,000. The investments were held as capital property. Magma Corp. paid $5,000 to a broker to dispose of each investment.

Required:

Calculate the capital gain or loss for 20x9.

Reference no: EM13819052

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