Dan Sold 135 Shares (Assume 100 Are Long-Term)of Elite Mutual

Multiple Choice

Dan sold 135 shares (assume 100 are long-term) of Elite Mutual Fund on July 26,2017 for $95 per share and received a 1099-B (box 3 was not checked for basis) to record the sale of the shares.Dan's investment portfolio includes the following purchases of Elite Mutual Fund: $\begin{array}{lr}\text { May } 20,2014 & 50 \text { shares at } \$ 100 \text { per share } \\\text { March } 29,2015 & 50 \text { shares at } \$ 95 \text { per share } \\\text { August } 21,2016 & 50 \text { shares at } \$ 85 \text { per share } \\\text { February } 22,2017 & 100 \text { shares at } \$ 75 \text { per share }\end{array}$ In 2017,Dan will recognize:

A) no long-term gain or loss and a $333.45 short-term gain.
B) $315 short-term gain and a $900 long-term gain.
C) $250 long-term loss and $583.45 short-term gain.
D) no short-term gain or loss and a $1,215 long-term gain.