On May 9, 2018. Calvin acquired 250 shares of stock in Hobbes Corporation, a new startup company, for $68,750. Calvin acquired the stock directly from Hobbes, and it is classified as section 1244 stock( at the time Calvin acquired his stock, the corporation has $900,000 of paid in capital). On January 15, 2020, Calvin sold all of his Hobbes stock for $7,000. Assuming

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