What is the net tax consequences of these dispositions?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:6. During the current year, Mary Moor disposes of several items. The proceeds of disposition and the
adjusted cost base for the various items are as follows:
Adjusted Cost Base Proceeds of Disposition
Car
25,000
10,000
Rare Book
300
4,000
Boat
20,000
35,000
Earrings
3,000
900
What is the net tax consequences of these dispositions?
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