In 2017, Mr. Dale paid $35,200 for 4,400 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2017 and 2018, he received Form 1099s reporting the following:

	Dividends Reinvested	Shares Purchased	Price per Share	Total Shares Owned
2017	$6,380	386	$16.528	4,786
2018	7,179	374	19.195	5,160

1. Assume the taxable year is 2019. If Mr. Dale sells his 5,160 shares for $12 per share, compute his recognized gain.
2. Assume the taxable year is 2019. If he sells only 1,600 shares for $12 per share and uses the FIFO method to determine basis, compute his recognized gain.
3. Assume the taxable year is 2019. If he sells only 1,600 shares for $12 per share and uses the average basis method, compute his recognized gain.