On April 10, 2019, Shen paid $48,650 for corporate stock. Shen died on July 14, 2021, when the stock was valued $29,190, and his son, Mijo, inherited it. On November 12, 2021, Mijo sold the shares for $34,055. What is the size and nature of Mijo's gain or loss? He has a long-term financial gain of $.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On April 10, 2019, Shen paid $48,650 for corporate stock. Shen died on July 14, 2021, when the stock was valued $29,190, and his son, Mijo, inherited it. On November 12, 2021, Mijo sold the shares for $34,055.

What is the size and nature of Mijo's gain or loss?

He has a long-term financial gain of $. 

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