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Chrissy receives 200 shares of Chevron stock as a gift from her father. The father purchased the stock for $8,00010 years ago and it is
Chrissy receives 200 shares of Chevron stock as a gift from her father. The father purchased the stock for $8,00010 years ago and it is worth $10,000 at the date of the gift. a. If Chrissy sells the stock for $11,200, calculate the amount of the realized gain or loss on the sale. $ b. If Chrissy sells the stock for $7,500, calculate the amount of the realized gain or loss on the sale
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