Capital Gains Taxes As part of its operations , Ferguson's Plumbing has bought and sold various non-depreciable capital assets. The purchase and sale prices of these assets are contained in the following table. Assuming that Ferguson pays a 40% capital gains tax , complete the table by completing the last two columns.

Asset	Sale price	Purchase price	capital gain	Tax
A	$ 4, 224	$ 3, 520	¿?	¿?
B	11 380	11 380	¿?	¿?
C	86 394	61 , 710	¿?	¿?
D	43 , 061	41 , 010	¿?	¿?
mi	17 , 776	16 , 160	¿?	¿?

Determine the amount of realized capital gain  on each of the five assets.

Answer rating: 100% (QA)

SOLUTION To determine the amount of realized capital gain on each a... View the full answer