Question: Problem 13-52 (Algorithmic) (LO. 1, 2, 3) Mahan purchases 1,000 shares of Bluebird Corporation stock on October 3, 2021, for $355,000. On December 12,

Problem 13-52 (Algorithmic) (LO. 1, 2, 3) Mahan purchases 1,000 shares of Bluebird Corporation stock on October 3, 2021, for $355,000. On December 12, 2021, Mahan purchases an additional 750 shares of Bluebird stock for $248,500. According to market quotations, Bluebird stock is selling for $355 per share on 12/31/21. Mahan sells 500 shares of Bluebird stock on March 1, 2022, for $198,800. a. What is the adjusted basis of Mahan's Bluebird stock on December 31, 2021? 603,500

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