29 Kevin owns a country property that he purchased in 1967 for $30,000. The property...
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29 Kevin owns a country property that he purchased in 1967 for $30,000. The property was worth $25,000 at the end of 1971; he sold it this year for 155,000. Kevin does not use the principal residence exemption on this property. Using the tax-free zone method, what will be his taxable capital gain? O a) $62,500 b) 565,000 c) 583,333 d) $130,000
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