George bought the following amounts of Stock A over the years: (Loss amounts should be indicated with a minus sign.) Date Purchased Number of Shares Adjusted Basis Stock A 11/21/1995 1,170 $ 28,080 Stock A 3/18/2001 585 10,530 Stock A 5/22/2010 920 33,120 On October 12, 2021, he sold 1,455 of his shares of Stock A for $38 per share.

a. How much gain/loss will George have to recognize if he uses the FIFO method of accounting for the shares sold?

b. How much gain/loss will George have to recognize if he specifically identifies the shares to be sold by telling his broker to sell all 920 shares from the 5/22/2010 purchase and 535 shares from the 11/21/1995 purchase?