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Question(s) / Instruction(s):

An investor purchased 500 shares of common stock, $25 par, for $21,750. Subsequently, 100 shares were sold for $49.50 per share.  What is the amount of gain or loss on the sale?
a)    $12,750 gain
b)    $9,250 loss
c)    $600 gain
d)    $600 loss

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