Problem 7-42 (LO 7-2) (Algo)

[The following information applies to the questions displayed below.]

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years:

Date Purchased	Shares	Basis
7/10/2012	450	$ 15,750
4/20/2013	350	14,280
1/29/2014	550	15,730
11/02/2016	300	10,260

If Dahlia sells 950 shares of Microsoft for $52,250 on December 20, 2022, what is her capital gain or loss in each of the following assumptions?

Note: Do not round intermediate calculations.

Problem 7-42 Part-a (Algo)

a. She uses the FIFO method.