Question: Conrad Smith a business executive is an avid collector of
Conrad Smith, a business executive, is an avid collector of vintage comic books. In February, he sold a 1938 Superman comic for $3,700 that he had purchased six years ago for $625. In December, Conrad sold a 1950 Donald Duck comic for $575 that he had purchased two years ago for $900. What is the effect of these two sales on Conrad’s AGI?
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