16. George bought the following amounts of Stock A over the years. On October 12, 2019 he sold 1,455 of his shares of Stock A for $38 per share. How much gain/loss will George have to recognize is he uses the FIFO method of accounting for the shares sold? Date Number of Adjusted Purchased Shares Basis Stock A 11/21/1993 1,170 $ 28,080 Stock A 3/18/1999 585 10,530 Stock A 5/22/2008 920 33,120 Gain to be recognized 17. George bought the following amounts of Stock A over the years. On October 12, 2019 he sold 1,455 of his shares of Stock A for $38 per share. How much gain/loss Will Georg has to recognize if he specifically identifies the shares to be sold by telling his broker to sell all 920 shares from the 5/22/2008 purchase and 535 shares from the 11/21/1993 purchase? Date Number of Adjusted Purchased Shares Basis Stock A 11/21/1993 1,170 $ 28,080 Stock A 3/18/1999 585 10, 530 Stock A 5/22/2008 920 33, 120 Gain to be recognized 18. In the previous year, T purchased at original issue a corporate bond with a ten-year term and a maturity value of $50,000. At original issue. T paid $45,000 for the bond, which paid interest this at a stated rate of 3-percent for cash interest payments of $1,500 per year. The amount of original issue discount amortization attributable to this tax year is $500. Select the most accurate statement a. must include in income $1,500 of interest payments she received plus $500 of OID amortization attributable to this year for a total of $2,000 of taxable income b. T must include in income only the $1,500 in interest payments she received this year and must disregard c. T must includ Page 4 | 5 Q + bts she received this year and must disregar d. T must include in income only the inneres payments she received this year and