5. diedra bought a house for $69,900 and sold it three years later for $72,200. assuming a capital gains tax…

5. diedra bought a house for $69,900 and sold it three years later for $72,200. assuming a capital gains tax rate of 15%, what is her capital gains tax?

5. diedra bought a house for $69,900 and sold it three years later for $72,200. assuming a capital gains tax rate of 15%, what is her capital gains tax?

Answer

Explanation:

Step1: Calculate capital gain

Capital gain = Selling price - Purchase price. So, $72200 - 69900=2300$.

Step2: Calculate capital - gains tax

Capital - gains tax = Capital gain × Tax rate. So, $2300\times0.15 = 345$.

Answer:

345