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In 2017, Mr. Dale paid $25,200 for 4,200 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2017 and 2018, he received Form 1099s reporting the following: Dividends Reinvested $6,090 6,792 Shares Purchased 328 415 Total Shares owned 4,528 4,943 Price per Share $18.567 16.366 2017 2018 a. Assume the taxable year is 2019. If Mr. Dale sells his 4,943 shares for $10 per share, compute his recognized gain. b. Assume the taxable year is 2019. If he sells only 1,500 shares for $10 per share and uses the FIFO method to determine basis, compute his recognized gain. c. Assume the taxable year is 2019. If he sells only 1,500 shares for $10 per share and uses the average basis method, compute his recognized gain. In 2017, Mr. Dale paid $25,200 for 4,200 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2017 and 2018, he received Form 1099s reporting the following: Dividends Reinvested $6,090 6,792 Shares Purchased 328 415 Total Shares owned 4,528 4,943 Price per Share $18.567 16.366 2017 2018 a. Assume the taxable year is 2019. If Mr. Dale sells his 4,943 shares for $10 per share, compute his recognized gain. b. Assume the taxable year is 2019. If he sells only 1,500 shares for $10 per share and uses the FIFO method to determine basis, compute his recognized gain. c. Assume the taxable year is 2019. If he sells only 1,500 shares for $10 per share and uses the average basis method, compute his recognized gain

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