Three years ago, Suzanne bought a new personal automobile for $26,900. This year, she sold it for $19,000. What is the amount and character of Suzanne's recognized loss?
A. $26,900 long-term capital loss.
B. No loss recognized on the sale of a personal asset.
C. $7,900 long-term capital loss.
D. $7,900 ordinary loss.
Answer: B
Business
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