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In 2020, Mr. Dale paid $17,600 for 2,200 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2020
In 2020, Mr. Dale paid $17,600 for 2,200 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2020 and 2021, he received Form 1099s reporting the following: Assume the taxable year is 2022. Required: a. If Mr. Dale sells his 2,895 shares for $12 per share, compute his recognized gain. b. If he sells only 500 shares for $12 per share and uses the FIFO method to determine basis, compute his recognized gain. c. If he sells only 500 shares for $12 per share and uses the average basis method, compute his recognized gain. Complete this question by entering your answers in the tabs below. If Mr. Dale sells his 2,895 shares for $12 per share, compute his recognized gain
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