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NEED HELP ON PART B, PLEASE. 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 7/10/2011 620 $ 32,240 4/20/2012 520 30,056 1/29/2013 720 32,832 11/02/2015 470 24,064   If Dahlia sells 1,460 shares of Microsoft for $105,120 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a.)She uses the FIFO method. (answered) Capital gain =28,232 b. She uses the specific identification method and she wants to minimize her current-year capital gain. Capital gain =

NEED HELP ON PART B, PLEASE. 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 7/10/2011 620 $ 32,240 4/20/2012 520 30,056 1/29/2013 720 32,832 11/02/2015 470 24,064   If Dahlia sells 1,460 shares of Microsoft for $105,120 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a.)She uses the FIFO method. (answered) Capital gain =28,232 b. She uses the specific identification method and she wants to minimize her current-year capital gain. Capital gain =

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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NEED HELP ON PART B, PLEASE.

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
7/10/2011 620 $ 32,240
4/20/2012 520 30,056
1/29/2013 720 32,832
11/02/2015 470 24,064

 

If Dahlia sells 1,460 shares of Microsoft for $105,120 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.)

a.)She uses the FIFO method. (answered)

Capital gain =28,232

b. She uses the specific identification method and she wants to minimize her current-year capital gain.

Capital gain =

 

 

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