Richard recently sold an investment for $1080. He purchased the investment for $680 two years ago. Richard is single and has total taxable income of $23600. What is Richard’s tax on the gain on his investment?

Richard recently sold an investment for $1080. He purchased the investment for $680 two years ago. Richard is single and has total taxable income of $23600. What is Richard’s tax on the gain on his investment?

a $0.

b $120.

c $40.

d$60.
please help!

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