Question: Paul, a variable annuity owner, transferred funds on which he had a $ 5 0 0 0 gain from his stock subaccount to his bond

Paul, a variable annuity owner, transferred funds on which he had a $5000 gain from his stock subaccount to his bond subaccount. He also transferred funds that have gained $9000 in value from his money market subaccount to his bond subaccount. How much current taxable income must Paul recognize as a result of the transfers.

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