Rachel Holds 110 Shares of Argon Mutual Fund

question 224

Multiple Choice

Rachel holds 110 shares of Argon Mutual Fund. She is planning to sell 90 shares. Her record of the share purchas noted below. What could be her basis for the 90 shares to be sold for purposes of determining gain?

• A) $9,409
• B) $9,500
• C) $9,000
• D) Any of the above could be used as basis for the 90 shares sold.