Three years ago, Nicholas purchased $280$ shares of stock in R Corporation for $$21,000.$ On October $20$ of year $4,$ Nicholas sells the $280$ shares for $$23,600.$

Part$-$a

a$.$ What is Nicholas's capital gain or loss from the sale on October $20$ of year $4?$

Part$-$b

b$.$ Assuming Nicholas has no other capital gains or losses, except that on August $5$ of year $5,$ Nicholas purchases $280$ shares of R Corporation stock for $$22,800.$ How much gain or loss from the sale on October $20$ of year $4$ is taxable on Nicholas's year $4$ tax return? What basis does Nicholas take in the stock purchased on August $5$ of year $5$

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