The county of aquilonia solve this accounting questions The country of Aquilonia has a tax system identical to that of Canada. Suppose someone in Aquiloniabought a parcel of land for $10,000 in 1960 when the price index equaled 100. In 2002, the personsold the land for $100,000, and the price index equaled 500. If the person must pay 20 percent of anycapital gain in taxes, which of the following is the after-tax real capital gain (in 2002 dollars) on theland?a. $72,000b. $62,000c. $32,000d. $6,400

Step 1: Define TaxThe term tax in economics and finance is used to denote the legal financial charge…

Answered: The country of Aquilonia has a tax…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter25: Taxation Of International Transactions

Section: Chapter Questions

Problem 4DQ

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