Mr. Arnett purchased 1,000 shares of Sure-Fire Limited, a public corporation, at $50 per share in 2011. Mr. Arnett received the following dividends subsequent to that time:

REQUIRED
Compute the taxable capital gain or allowable capital loss if Mr. Arnett sold 100 of the above shares in 2016 for $45 per share less brokerage fees of $100.

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2012 2013 2014 2015 A stock dividend of 10% which resulted in an increase in the paid-up capital of $10 for each share issued. A stock dividend of 10% which resulted in an increase in the paid-up capital of $10 for each share issued. Cash dividend of $5 per share. A stock dividend of 10% which resulted in an increase in the paid-up capital of $10 for each share issued.