George bought the following amounts of Stock A over the years:

On October 12, 2015, he sold 1,200 of his shares of Stock A for $38 per share.
a) How much gain/loss will George have to recognize if he uses the FIFO method of accounting for the shares sold?
b) How much gain/loss will George have to recognize if he specifically identifies the shares to be sold by telling his broker to sell all 750 shares from the 5/22/2004 purchase and 450 shares from the 11/21/1989 purchase?

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Date Purchased Number of Shares Adjusted Basis 1,000 500 750 $24,000 9,000 27,000 Stock A Stock A 11/21/1989 3/18/1995 5/22/2004 Stock A