Multiple Choice
Kurt Kramer purchased stock five years ago for $12,000 which he gave to Jim Jensen when its fair market value was $9,000. Subsequently, Jim sold the stock for $7,500. What is the amount of Jim's loss on the sale?
A) $3,000
B) $1,500
C) $4,500
D) $2,000
Correct Answer:
Verified
Correct Answer:
Verified
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