Donald sold four capital assets in the current year: Purchase Date 03/15/Year 7 04/05/Year 8 06/08/Year 9 09/15/Year 10 Sale Date 08/14/Year 10 10/31/Year 10 02/14/Year 10 12/28/Year 10 Cost $5,200 $6,600 $4,500 $9,600 Sales Proceeds $7,700 $2,900 $5,000 $7,000 If Donald's AGI before the capital transactions was $127,700, what is Donald's AGI after the capital transactions?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Donald sold four capital assets in the current year:
Purchase Date
03/15/Year 7
04/05/Year 8
06/08/Year 9
09/15/Year 10
Sale Date
AGI $
08/14/Year 10
$5,200
$6,600
$4,500
12/28/Year 10 $9,600
10/31/Year 10
Cost
02/14/Year 10
Sales Proceeds
$7,700
$2,900
$5,000
$7,000
If Donald's AGI before the capital transactions was $127,700, what is Donald's AGI after the capital transactions?
Transcribed Image Text:Donald sold four capital assets in the current year: Purchase Date 03/15/Year 7 04/05/Year 8 06/08/Year 9 09/15/Year 10 Sale Date AGI $ 08/14/Year 10 $5,200 $6,600 $4,500 12/28/Year 10 $9,600 10/31/Year 10 Cost 02/14/Year 10 Sales Proceeds $7,700 $2,900 $5,000 $7,000 If Donald's AGI before the capital transactions was $127,700, what is Donald's AGI after the capital transactions?
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