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Harold owns 160 shares of stock in Becker Corporation. His adjusted basis for the stock is $263 200. On December 15. 2020, he sells the
Harold owns 160 shares of stock in Becker Corporation. His adjusted basis for the stock is $263 200. On December 15. 2020, he sells the stock for $224,000. He purchases 240 shares of Becker Corporation stock on January 12. 2021. for $290.400. Required: a. What are Harold's realized and recognized gain or loss on the sale? b. What is Harold's adjusted basis for the 240 shares purchased on January 12, 2021? c. How would your answers in parts (a) and (b) change if he purchased only 120 shares for $126.600 in January? (Round any percentage computation to 2 decimal places. Round other computations to the nearest whole dollar value.) (For all requlrements. If no galn or loss is recognized, select "No galnloss".) Amount b. Adjusted basis of shares c. Adjusted basis of shares
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