2 Sale of Stock. (Obj. 1) Ima had the following purchases of common stock in the same company.
2000
400 shares at $10 per share
2003
100 shares at $20 per share
2006
300 shares at $30 per share
2008
200 shares at $40 per share
a. In 2018, Ima sold 500 shares at $35 per share. Assuming Ima did not identify which
blocks of stock were sold, compute her recognized gain or loss on the sale.
b. If Ima's objective is to minimize taxes and she could adequately identify which stock
she was selling, which stock should she sell, and what is the recognized gain or loss that
would result?