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Required information Problem 11-67 (LO 11-6) (Algo) [The following information applies to the questions displayed below.] Deirdre sold 175 shares of stock to her brother,

Required information Problem 11-67 (LO 11-6) (Algo) [The following information applies to the questions displayed below.] Deirdre sold 175 shares of stock to her brother, James, for $4,550. Deirdre purchased the stock several years ago for $5,950. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable. Problem 11-67 Part-a (Algo) a. What gain or loss does Deirdre recognize on the sale? Required information Problem 11-67 (LO 11-6) (Algo) [The following information applies to the questions displayed below.] Deirdre sold 175 shares of stock to her brother, James, for $4,550. Deirdre purchased the stock several years ago for $5,950. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable. Problem 11-67 Part-b (Algo) b. What amount of gain or loss does James recognize if he sells the stock for $6,475

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