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On December 1, 20X7, George Jimenez Needed a Little Extra

Question 94

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On December 1, 20X7, George Jimenez needed a little extra cash for the upcoming holiday season, and sold 250 shares of Microsoft stock for $50 per share less a broker's fee of $200 for the entire sale transaction. Prior to the sale, George held the following blocks of Microsoft stock (associated broker's fee paid at the time of purchase):  Acquisition  Date  Number of  Shares  Market Price When  Acquired  Broker’s  Fee  1/1/X4 300$35 per share $2506/30/X6300$45 per share $250\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Acquisition } \\\text { Date }\end{array} & \begin{array} { c } \text { Number of } \\\text { Shares }\end{array} & \begin{array} { c } \text { Market Price When } \\\text { Acquired }\end{array} & \begin{array} { c } \text { Broker's } \\\text { Fee }\end{array} \\\hline \text { 1/1/X4 } & 300 & \$ 35 \text { per share } & \$ 250 \\\hline 6 / 30 / \mathbf { X 6 } & 300 & \$ 45 \text { per share } & \$ 250 \\\hline\end{array} If his goal is to minimize his current capital gain, how much capital gain will George report from the sale?

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