On July 20,2015,Matt (Who Files a Joint Return)purchased 3,000 Shares

question 15

Multiple Choice

On July 20,2015,Matt (who files a joint return) purchased 3,000 shares of Orange Corporation stock (the stock is § 1244 small business stock) for $24,000.On November 10,2015,Matt purchased an additional 1,000 shares of Orange Corporation stock from a friend for $150,000.On September 15,2016,Matt sold the 4,000 shares of stock for $120,000.How should Matt treat the sale of the stock on his 2016 return?

• A)$54,000 ordinary loss.
• B)$100,000 ordinary loss;$46,000 net capital gain.
• C)$100,000 ordinary loss;$20,000 STCL.
• D)$130,000 ordinary loss;$66,000 LTCG.
• E)None of the above.

Recognize how economic events like sales or price changes can affect both existing and potential consumers differently.

Understand the concept of consumer surplus and how changes in market conditions affect it.

Recognize the effects of price floors and price ceilings on consumer surplus.

Interpret graphical representations of changes in consumer surplus due to price changes.

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Definitions:

Hyperfocus

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A mental disorder characterized by persistent and severe low mood, low self-esteem, and a loss of interest or pleasure in normally enjoyable activities.

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