An individual taxpayer, not a dealer or trader in securities, completed the transactions shown below for Micro Products Company.

- September 15, 2016, purchased 100 shares at a cost of $4,800

- December 10, 2016, sold the above shares for $3,200

- January 4, 2017, purchased 60 shares at a cost of $1,800

A. Compute the recognized gain or loss from the December 10 sale and the taxpayer's basis in the January 4 purchase.

B. Same as part A except that the sale price for the stock sold on December 10 was $5,300.

C. Compute the recognized gain or loss from the December 10 sale and the taxpayer's basis in stock on January 4 assuming that 1) the sales price of the shares sold on December 10 was $3,200 and 2) the shares had been inherited by the taxpayer from his father on September 15, 2016. At the time of his father's death the shares were valued at $2,500. The father had purchased the stock 2 months earlier for $2,000.