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Randy sold 1,000 shares of SP, Inc. stock to his son, Stan. Randy initially paid $50 per share for the stock, but sold it to

Randy sold 1,000 shares of SP, Inc. stock to his son, Stan. Randy initially paid $50 per share for the stock, but sold it to Stan for $30 per share. If Stan sells the stock to an unrelated party for $35 per share, what amount of gain or loss will Stan recognize for tax purposes

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