“(1) In 2006, Gitta contributed property with a basis of $500,000 and a fair market value of $3,000,000 to a qualified small business corporation for all of its common stock. She sells the stock in 2013 for 4,000,000. What is the amount of taxable gain on the transaction? (2) Joy purchased 200 shares of HiLo Mutual Fund on July 15, 2009, for $10,500, and has been reinvesting dividends. On December 15, 2013, she sells 100 shares. Amount No. of shares Purchased July 15, 2009 $10,500 200 Reinvested dividends, Oct 1, 2010 800 10 Reinvested dividends, Oct 1, 2011 970 20 Reinvested dividends, Oct 1, 2012 980 20 $13,250 250 What is the basis for the shares sold assuming the FIFO cost method? What is the basis for the shares sold assuming the average cost method? Additional Requirements Min Pages: 1 Level of Detail: Show all work”