The following is the excerpt of financial information of ODDinary Corporation on December 31, 2022: Account Amount Gross profit D5,000,000.00 Operating Expense 120,000.00 Interest expense 300,000.00 Income Tax expense 50,000.00 Current Assets 450,000.00 Non-current assets 7,000,000.00 Total Liabilities 750,000.00 What is ODDinary Corporation's ratio of debt-to-equity on December 31, 2022? 0.1656 or 16.56% cannot be determined 0.1119 or 11.19% 0.1007 or 10.07%

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.