Multiple Choice
Suppose the annual inflation rate is 5%, and an asset bought at the beginning of the year for $50,000 is sold for $65,000. If the capital- gains tax rate is 30%, what is the (approximate) effective tax rate on the sale of this asset?
A) 7%.
B) 10%.
C) 9%.
D) 6%.
E) 8%.
Correct Answer:
Verified
Correct Answer:
Verified
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