Dahlia is in the 32 percent tax rate bracket and has purchased the following shares...
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Accounting
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2010 480 $ 18,240 4/20/2011 380 16,644 1/29/2012 580 18,328 11/02/2014 330 12,276 If Dahlia sells 1,040 shares of Microsoft for $60,320 on December 20, 2020, 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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