Three years ago, Rachel purchased $290$ shares of stock in I Corporation for $$17,400.$ On January $15$ of year $4,$ Rachel sells the $290$ shares for $$20,500.$

Part$-$a

a$.$ What is Rachel's capital gain or loss from the sale on January $15$ of year $4?$

Part$-$b

b$.$ Assuming Rachel has no other capital gains or losses, except that on November $5$ of year $5,$ Rachel purchases $290$ shares of I Corporation stock for $$19,800.$ How much gain or loss from the sale on January $15$ of year $4$ is taxable on Rachel's year $4$ tax return? What basis do

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