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Q. Kelly purchased ten shares of Gentech stock for $200 in year 1 and sold all shares in year 2 for $220 a share. Between year 1 and year 2, price level increased by 5%. Tax on capital gains is 50%. If capital gains tax is on nominal gains, Explain how much tax Sally pays on her gain. Calculate Kelly's capital gains if tax is on real gains.

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Business Economics, Economics

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