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Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date purchased Shares

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years:

Date purchased Shares Basis
7/10/2011 400 $12,000
4/20/2012 300 $10,750
1/29/2013 500 $12,230
11/02/2015 250 $7,300

If Dahlia sells 800 shares of Microsoft for $40,000 on December 20, 2021, what is her capital gain or loss in each of the following assumptions?

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