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During the year, Mr. G had the following capital transactions: Long-Term Long-Term Short-Term (28% Basket) (15%...

During the year, Mr. G had the following capital transactions:

Long-Term

Long-Term

Short-Term

(28% Basket)

(15% Basket)

Gains

$  9,000

$15,000

$  8,000

Losses

10,000

10,000

12,000

Determine the overall result of the transactions.

$4,000 long-term capital gain.

$0 long-term capital gain.

$1,000 short-term capital loss.

$5,000 long-term capital gain.

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