Question: A customer has purchased $ 1 5 , 0 0 0 worth of XYZ Corporation over a period of time. Which of the following is

A customer has purchased $15,000 worth of XYZ Corporation over a period of time. Which of the following is true about his subsequent sale of $5,000 of XYZ stock?The investor is allowed to specify which shares are being sold to minimize his capital gain.His capital gain is $5,000.The IRS requires that LIFO be used to identify the shares sold in order to maximize the customer's tax liability.The IRS requires that FIFO be used to identify the shares sold in order to maximize the customer's tax liability.

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