Winkler, a cpa, provided accounting services to a client, thompson. on december 15 of the same year, thompson gave winkler 100 shares of foster corp. as compensation for services. the adjusted basis of the stock was $4,000, and its fair market value at the time of transfer was $5,000. the following year, winkler sold the stock on february 15 for $7,500. what is the amount that winkler should recognize as gain on the sale of stock?

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.