Leona owns 300 shares of ross industries she acquired the, Ask an Expert

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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?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M91700747

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