Asked by Kesha

4. Cecelia is an avid art collector who owns many original works of art. Recently, she decided to sell an oil painting by Norman Rockwell. The buyer paid $500,000 for the painting. Since Cecelia had paid just $350,000 for the painting, she made a profit, or capital gain, on the sale. Determine Cecelia’s capital gain by subtracting $350,000 from $500,000. If the capital gain tax is 15 percent, you would calculate the tax bill by multiplying her capital gain by 0.15. How much tax did Cecelia owe?
Answered by Ms. Sue
What don't you understand about this problem?

Answered by Kesha
So subtract $500,000 from $350,000, then mutiply it by 0.15?
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