Anita sold for $60,000 her home that she purchased ten years ago for $

Anita sold for $60,000 her home that she purchased ten years ago for $20,000. She then purchased another home a month later for $70,000. Her capital gain on the sale of the first home was

A)

$60,000
B)

$40,000.
C)

$30,000.
D)

$0.

ANSWER

B