Problem $4-5$

Calculation of Gain or Loss $($LO $4\mathrm{.}3)$

Chrissy receives $200$ shares of Chevron stock as a gift from her father. The father purchased the stock for $$8,00010$ years ago, and it is worth $$10,000$ at the date of the gift.

a$.$ If Chrissy sells the stock for $$11,200,$ calculate the amount of the realized gain or loss on the sale.

b$.$ If Chrissy sells the stock for $$7,500,$ calculate the amount of the realized gain or loss on the sale.