II. STOCK INVESTMENTS 1. is in the 35% marginal tax bracket and has the following purchases of Losing Co. Stock: Date # Shares Cost per Share Total Cost 3/15/17 200 $20 $4,000 1/20/18 200 10,000 10/15/19 200 5,000 25 a. As of December 27, 2019, the Losing Co. stock is selling for $25 per share. For 2019, Jill's other capital asset sales generated a $2,000 short-term capital gain (STCG). Jill needs $5,000 in cash for car repairs, and therefore intends to sell 200 shares of Losing Co. stock at its current $25 price (200 x $25 $5,000). From which of the above purchases should she sell it, in order to achieve the greatest tax advantage? Explain. II. STOCK INVESTMENTS 1. JH is in the 35% marginal tax bracket and has the following purchases of Losing Co. Stock Date # Shares Cost per Share Total Cost 3/15/17 200 $20 $4,000 1/20/18 200 10,000 10/15/19 200 5,000 25 a. As of December 27, 2019, the Losing Co. stock is selling for $25 per share. For 2019, Jill's other capital asset sales generated a $2,000 short-term capital gain (STCG). Jill needs $5,000 in cash for car repairs, and therefore intends to sell 200 shares of Losing Co. stock at its current $25 price (200 x $25 = $5,000). From which of the above purchases should she sell it, in order to achieve the greatest tax advantage? Explain. b. If Jill fails to designate to her broker the specific block of stock from which the sale is made, what is the default treatment