Arizona State University BUS BUS MISC provide solutions111 War and Economic Recovery Imperial forces have…
In his RRSP, Donald purchased on oil futures contract for $25,000. Later that year, after holding he contract for 4 months, Donald sold it for $27,000. He received no income from the futures contract during the holding period. Which of the following would result?
1. Donald must include $25,000 in his income.
2. Donald must include $27,000 in his income.
3. Donald is subject to a $1,000 penalty.
4. Donald is subject to a $1,080 penalty.
a. 2 and 4
b. 1 and 4
c. 2 and 3
d. 1 and 3
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