Required information 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 7/10/2010 4/20/2011 1/29/2012 11/02/2014 Shares 560 460 660 410 Basis $ 25, 760 23,828 26,136 18,532 If Dahlia sells 1,280 shares of Microsoft for $84,480 on December 20, 2020, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) Problem 7-42 Part-a (Algo) a. She uses the FIFO method. Required information 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 7/10/2010 4/20/2011 1/29/2012 11/02/2014 Shares 560 460 660 410 Basis $ 25,760 23,828 26,136 18,532 If Dahlia sells 1,280 shares of Microsoft for $84.480 on December 20, 2020, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) Problem 7-42 Part-b (Algo) b. She uses the specific identification method and she wants to minimize her current-year capital gain