Question: In June 2010, Olive Bell bought a house for use partially as a residence and partially for operation of a retail gift shop. In addition,

In June 2010, Olive Bell bought a house for use partially as a residence and partially for operation of a retail gift shop. In addition, Olive bought the following furniture:

Kitchen set and living room pieces for the residential portion $ 8,000 Showcases and tables for the business portion 12,000 How much of this furniture comprises capital assets?

a. $0

b. $ 8,000

c. $12,000

d. $20,000

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