Recognized gain or loss on sale of the ross stock

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Reference no: EM13991901

Leona owns 300 shares of Ross Industries. She acquired the shares on February 17, 2008, for $6,500. On September 17, 2010, she acquires another 200 shares of Ross for $4,800. Two weeks later, a lawsuit is filed against Ross for patent infringe- ment, and its stock price drops to $19 per share. Unsure of the outcome of the lawsuit, Leona sells 300 shares of the stock for $5,400 on October 12, 2010. What is her recognized gain or loss on the sale of the Ross stock?

Reference no: EM13991901

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