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K sold 4,000 shares of a public company for $16,000. Before the sale, K owned...

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Accounting

K sold 4,000 shares of a public company for $16,000. Before the sale, K owned 12,000 shares; an initial 7,000 were purchased for $14,000 and an additional 5,000 were purchased for $13,000 twenty days before the sale. What amount is to be reported in net income for tax purposes?

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