In December 2017 , Michael sells a piece of antique furniture for 6,360, paying incidental disposal
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In December 2017 , Michael sells a piece of antique furniture for £ 6,360, paying incidental disposal costs of £320. He had acquir ed the furniture in January 2010 as a gift from his mother. Compute Michael's chargeable gain if the market value of the furniture in January 2010 was:
(a) £5,500
(b) £4,900
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Sale proceeds Less Incidental costs of disposal a 6360 320 6040 550...View the full answer
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