In 2019, Mr. Dale paid $36,000 for 3,600 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2019 and 2020, he received Form 1099s reporting the following:

	Dividends Reinvested	Shares Purchased	Price per Share	Total Shares Owned
2019	$5,220	379	$13.773	3,979
2020	5,969	395	15.111	4,374

Assume the taxable year is 2021.

Required:

1. If Mr. Dale sells his 4,374 shares for $14 per share, compute his recognized gain.
2. If he sells only 1,200 shares for $14 per share and uses the FIFO method to determine basis, compute his recognized gain.
3. If he sells only 1,200 shares for $14 per share and uses the average basis method, compute his recognized gain.