Question: Exercise 16-15 (Algorithmic) (LO. 3) On May 9, 2021, Glenna purchases 500 shares of Ignaz Company stock for $49,600. On June 30,2021 , she writes

Exercise 16-15 (Algorithmic) (LO. 3) On May 9, 2021, Glenna purchases 500 shares of Ignaz Company stock for $49,600. On June 30,2021 , she writes a call option on the stock, giving the grantee the right to buy the stock for $62,000 during the following 12 -month period. Glenna receives a call premium of $496 for writing the call. The call is exercised by the grantee on December 15,2021. a. What is the amount and character of Glenna's gain or loss? Glenna has of $ from the sale of the stock. b. Assume that the original option expired unexercised. What is the amount and character of Gienna's gain or loss? Glenna has of $

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