Mahan purchases 1,000 shares of Bluebird Corporation stock on October 3, 2021, for $490,000. On December 12, 2021, Mahan purchases an additional 750 shares of Bluebird stock for $343,000. According to market quotations, Bluebird stock is selling for $490 per share on 12/31/21. Mahan sells 500 shares of Bluebird stock on March 1, 2022, for $274,400.

a. What is the adjusted basis of Mahans Bluebird stock on December 31, 2021? $fill in the blank

b. What is Mahan's recognized gain or loss from the sale of Bluebird stock on March 1, 2022, assuming Mahan cannot adequately identify the shares sold?