Tiffany purchased 100 shares of ACE Corporation stock for $28,000 on January 1 of last year. In the current tax year, she sold 30 shares of these 100 shares for $8,000. Twenty-nine days earlier, she had purchased 30 shares for $7,500.
(a) What is her recognized loss/gain based on these transactions?
(b) What is Tiffany's basis in the new shares?