Research Problem 2. Ali owns 100 shares of Brown Corporation stock. He purchased the stock at five different times and at five different prices per share as indicated.

Share Block Number of Shares Per-Share Price Purchase Date A 10 $60 10/10/2001 B 20 20 08/11/2002 C 15 15 10/24/2003 D 35 30 04/23/2004 E 20 25 07/28/2004 On April 28, 2021, Ali will sell 40 shares of Brown stock for $40 per share. All of Ali’s shares are held by his stockbroker. The broker’s records track when the shares were purchased. May Ali designate the shares he sells? If so, which shares should he sell?

Assume that Ali wants to maximize his gain because he has a capital loss carryforward.