Angel purchased property as an investment on May 11, 2021, for $63,000. On April 26,...
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Accounting
Angel purchased property as an investment on May 11, 2021, for $63,000. On April 26, 2022, Angel sold the land for $97,000 cash. What is the nature of the gain or loss?
a. Long-term capital loss
b. Long-term capital gain
c. Short-term capital gain
d. Short-term capital loss
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