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Efrain Owns 1,000 Shares of RJ Inc

Question 80

Multiple Choice

Efrain owns 1,000 shares of RJ Inc.common stock which he purchased three years ago for $36,000.Efrain sells the 1,000 shares on October 15,2019,for $10,000.On November 12,he purchases 400 shares of RJ Inc.preferred stock for $8,000.Efrain's recognized loss on the sale of the 1,000 shares will be


A) $0.
B) $10,400.
C) $15,600.
D) $26,000.

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