n 2014, Mr. Dale paid $30,100 for 4,300 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2014 and 2015, he received Form 1099s reporting the following:

	Dividends Reinvested	Shares Purchased	Price per Share	Total Shares Owned
2014	$6,235	395	$15.785	4,695
2015	7,043	438	16.080	5,133

a. Assume the taxable year is 2016, if Mr. Dale sells his 5,133 shares for $11 per share, compute his recognized gain.

b. Assume the taxable year is 2016, if he sells only 1,550 shares for $11 per share and uses the FIFO method to determine basis, compute his recognized gain.

c. Assume the taxable year is 2016, if he sells only 1,550 shares for $11 per share and uses the average basis method, compute his recognized gain.