A Brief Overview of Capital Gains and Losses (LO 1.9) Joyce purchased General Electric stock 4 years ago for $10,000. In the current year, she sells the stock for $25,000. What is Joyce’s gain or loss? a.$15,000 long-term gain. b.$15,000 extraordinary gain c.$15,000 short-term gain. d.$15,000 ordinary loss. e.No gain or loss is recognized on this transaction.

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A:

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