In 2018, Mr. Dale paid $31,200 for 2,600 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2018 and 2019, he received Form 1099s reporting the following:

	Dividends Reinvested	Shares Purchased	Price per Share	Total Shares Owned
2018	$3,770	406	$9.286	3,006
2019	4,509	342	13.184	3,348

Assume the taxable year is 2020.

Required:

1. If Mr. Dale sells his 3,348 shares for $16 per share, compute his recognized gain.
2. If he sells only 700 shares for $16 per share and uses the FIFO method to determine basis, compute his recognized gain.
3. If he sells only 700 shares for $16 per share and uses the average basis method, compute his recognized gain.