Garrett owns 210 shares of Pine Corporation common stock, purchased during the prior year: 100 shares on July 5, for S17,000; and 110 shares on October 15, for $22,000. When Garrett sells 75 shares for $14,000 on July 18 of the current year, he does not identify the particular shares sold. Determine the amount and character of the gain Using the FIFO method Garrett will recognize 1ot of $