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Grayson is in the 25 percent tax rate bracket and has the sold the following stocks in 2013:
Date Purchased
Basis
Date Sold
Amount Realized
Stock A
1/23/1989
$7,250
7/22/2013
$4,500
Stock B
4/10/2013
14,000
9/13/2013
17,500
Stock C
8/23/2011
10,750
10/12/2013
15,300
Stock D
5/19/2003
5,230
12,400
Stock E
8/20/2013
7,300
11/14/2013
3,500
a. What is Grayson's net short-term capital gain or loss from these transactions?
b. What is Grayson's net long-term gain or loss from these transactions?
c. What is Grayson's overall net gain or loss from these transactions?
d. What amount of the gain, if any, is subject to the preferential rate for certain capital gains?
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