Alpesh Required informationProblem 7-42 (LO 7-2) (Algo)[The following information applies to the questions displayed below.]Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq:MSFT) over the years:DatePurchased Shares7/10/20135404/20/20144401/29/2015 64011/02/2017390Basis$ 23,76021,91224,06416,848If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2023, what is her capital gain or loss in each of thefollowing assumptions?Note: Do not round intermediate calculations.Problem 7-42 Part-b (Algo)b. She uses the specific identification method and she wants to minimize her current-year capital gain.Capital gain

Capital gain is the increase in the value of asset and is realized when it is sold.The minimization…

[The following information applies to the questions displayed below.] Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq: MSFT) over the years: Date Purchased Shares 7/10/2013 540 4/20/2014 1/29/2015 11/02/2017 440 640 390 Basis $ 23,760 21,912 24,064 16,848 If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2023, what is her capital gain or loss in each of the following assumptions? Note: Do not round intermediate calculations. oblem 7-42 Part-b (Algo) She uses the specific identification method and she wants to minimize her current-year capital gain.