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What is the amount and type of gain on this sale

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Question - In 2015, Grant purchased land for $104,050 for use in his business. He sold it in 2018 for $115,650. What is the amount and type of gain on this sale, before netting of any other gains and/or losses?

a. $11,600 § 1231 gain.

b. $11,600 ordinary gain.

c. $11,600 short-term capital gain.

d. $11,600 long-term capital gain.

Reference no: EM133069817

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