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  3. in 2021, mr. dale paid $45,600 for 3,800 shares of

In 2021, Mr. Dale paid $45,600 for 3,800 shares of GKL Mutual Fund and elected...

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Accounting

In 2021, Mr. Dale paid $45,600 for 3,800 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2021 and 2022, he received Form 1099s reporting the following:
\table[[,Dividends,Shares,Price per,Total Shares],[Reinvested,Purchased,Share,Owned,],[2021,$5,510,341,$16.158,4,141],[2022,6,212,396,15.687,4,537]]
Assume the taxable year is 2023.
Required:
a. If Mr. Dale sells his 4,537 shares for $16 per share, compute his recognized gain.
b. If he sells only 1,300 shares for $16 per share and uses the FIFO method to determine basis, compute his recognized gain.
c. If he sells only 1,300 shares for $16 per share and uses the average basis method, compute his recognized gain.
Complete this question by entering your answers in the tabs below.
Required A
If Mr. Dale sells his 4,537 shares for $16 per share, compute his recognized gain
Recognized gain
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