NEED CALCULATIONS

Franklin Corp. owns 1, 500 shares of Gray Fox Corporation common stock. Franklin Corp. purchased the 1, 500 shares on April 17, 2010, for $21, 000. On December 8, 2015, Franklin sells 700 shares for $7, 490. On January 2, 2016, Franklin Corp. buys 350 shares of Gray Fox Corporation common stock for $3, 850 and 25 shares of Gray Fox Corporation preferred stock for $1, 800. The preferred stock is nonvoting, nonconvertible. a. What is Franklin's realized and recognized loss on the December 8 sale of stock? b. What is Franklin's basis and the holding periods of the stock? a. What is Franklin's realized and recognized loss on the December 8 sale of stock? (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest whole dollar.) Franklin has a realized loss of $ on its sale of the Gray Fox common stock and it can recognize a loss of $