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Required information (The following information applies to the questions displayed below.] Dahlia is in the 32 percent tax rate bracket and has purchased the following
Required information (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 7/10/2011 4/20/2012 1/29/2013 11/02/2015 Shares 540 440 640 390 Basis $ 23,760 21,912 24,064 16,848 If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a. She uses the FIFO method. b. She uses the specific identification method and she wants to minimize her current-year capital gain
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