Several years ago, Kurt paid $15,000 for 1,000 shares of stock in ABC. During the current year ABC declares a three-for-one stock split. Shortly thereafter, Kurt sells 1,000 shares of ABC stock for $12,000. His recognized gain on the sale of the 1,000 shares is:A. $7,000. B. $2,000. C. $0. D. $12,000. E. $5,000.
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