In 2013, Mr. Dale paid $47,600 for 3,400 shares of GKL Mutual Fund and elected to reinvest dividends in additional shares. In 2013 and 2014, he received Form 1099s reporting the following:

a. If Mr. Dale sells his 4,052 shares for $18 per share, compute his recognized gain.
b. If he sells only 800 shares for $18 per share and uses the FIFO method to determine basis, compute his recognized gain.
c. If he sells only 800 shares for $18 per share and uses the average basis method, compute his recognized gain.

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Shares Purchased 312 340 Price per Share $15.769 17.274 Dividends Reinvested Total Shares Owned 2013 2014 $4,920 5,873 3,712 4,052