Chapter 7 Homework 1. DRILL.involuntary.conversions 2. DRILL.section. 1033 3. DRILL.like-kind.property 4. DRILL.giving.of.boot 5. DRILL.realized.vs.recognized 6. DRILL.wash.sale eBook Print Item Problem 7-12 (Algorithmic) (LO. 3) Mahan purchases 1,000 shares of Bluebird Corporation stock on October 3, 2021, for $130,000. On December 12, 2021, Mahan purchases an additional 750 shares of Bluebird stock for $91,000. According to market quotations, Bluebird stock is selling for $130 per share on 12/31/21. Mahan sells 500 shares of Bluebird stock on March 1, 2022, for $72,800. a. What is the adjusted basis of Mahan's Bluebird stock on December 31, 2021? 221,000 Feedback 7. EX.07-03.Algo 8. EX.07-06.Algo 9. EX.07-07.Algo 10. PR.07-12.Algo b. What is Mahan's recognized gain or loss from the sale of Bluebird stock on March 1, 2022, assuming the shares sold are from the shares purchased on December 12, 2021? In your computations, round the per share amount to the nearest whole dollar and use the rounded amount in subsequent computations. Mahan's recognized gain Feedback is $ 12,133 X. 11. PR.07-14.Algo Check My Work Partially correct 12. PR.07-25.Algo 13. PR.07-37 c. What is Mahan's recognized gain or loss from the sale of Bluebird stock on March 1, 2022, assuming Mahan cannot adequately identify the shares sold? Mahan has a recognized gain of 7,800 Progress: 10/13 items Assignment Score: 98.1% Check My Work 1 more Check My Work uses remaining. All work saved. CO Previous Next Save and Exit Submit Assignment for Grading