00 8 ! Part 1 of 2 0.5 points Required Information Problem 7-42 (LO 7-2) (Algo) [The following information applies to the questions displayed below.] Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased 7/10/2011 Shares 540 Basis $ 23,760 4/20/2012 440 21,912 1/29/2013 11/02/2015 640 390 24,064 16,848 If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? (Do not round Intermediate calculations.) Problem 7-42 Part-a (Algo) a. She uses the FIFO method. Answer is complete but not entirely correct. Capital gain $ 16,365