I need help with 12&13 with work Shown 12. Alexa purchased 700 shares of Campagna Corporation stock for x
dollars per share in 2005. She sold them in 2010 for y dollars per share,
where y < x.
a. Did Alexa have a gross capital gain or a gross capital loss?
Explain.
700y - 700x
b. Alexa used the formula
to compute the percent of
700x
the loss. Her husband Tom used the formula to compute
the percent of the loss. She told him he was incorrect because he
didn't take into account that she bought 700 shares. He says that
his formula is correct, and so is hers. Who is correct, Alexa or
Tom? Explain.