capital gain test

How to calculate capital gain teat iff there is a deferred tax of 10% starting in two years time .....and rest as usual......???

 

Hmm, not sure. Initial thought is to multiply the tax rate in the D/R term by v^2.

 

I think it wouldn't matter when you pay the income tax, to determine whether there is a capital gain. I would still think it would be comparison of D/R(1-t) vs i(p).