Apple Company owns 5% (50 of the 1000 shares) of the stock in Banana Company which it purchased for $5000. Apple has no influence over Banana Company. On January 1st Banana Company has a two for one split. On February 3rd Apple sold 10 of its shares in Banana Company for $300. What gain or loss does Apple show on its sale of Banana Company?

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a

Gain $50

b

Loss $200

c

Loss $4700

d

Gain 300

e

No gain or loss on partial sale