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Business, 15.07.2020 01:01 diyagawande

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date
Purchased Shares Basis
1/10/2008 540 $23,760
4/20/2009 440 21,912
1/29/2010 640 24,064
11/02/2012 390 16,848
If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2018, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.)
a. She uses the FIFO method.
b. She uses the specific identification method and she wants to minimize her current year capital gain.

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