Pedro purchases 50 shares of Piper Company common stock on February 19, 2015, at a cost of

Question:

Pedro purchases 50 shares of Piper Company common stock on February 19, 2015, at a cost of $4,300. He sells the 50 shares on July 2, 2018, for $9,000. On March 14, 2018, Pedro purchases 100 shares of Troxel common stock for $9,700. He sells the Troxel shares on December 18, 2018, for $6,600. What is the effect of the stock sales on Pedro's 2018 income?

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