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C. How would your answers to Parts a and b change if the stock Giraffe...

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C. How would your answers to Parts a and b change if the stock Giraffe purchases during 2023 is Southern nonvoting, nonconvertible, preferred stock instead of Southern common stock?

Mr. Giraffe owns 500 shares of Southern Corporation common stock, which was purchased on March 8, 2011, for $7,500. In 2023, Mr. Giraffe buys and sells Southern Corporation stock as follows. On October 3, Giraffe purchases an additional 100 shares for $1,300. On October 12 , he sells the original 500 shares acquired in 2011 for $6,250. On November 1 , he purchases an additional 250 shares for $2,750

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