Q: 12
CORRECT TEXT Country ZZ allows the cost of a capital asset to be adjusted for an indexation allowance which takes into consideration the effect of inflation, although the indexation allowance cannot convert a chargeable gain into a chargeable loss. The following data relates to the sale of an asset during the year ended 31 March 20X4: 
Calculate the chargeable gain or loss in respect of the sale of this asset. Give your answer to the nearest $.
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