2. Jorge is in the business of making violins. His normal selling price for the violins is $400. On November 1, 2019, Jorge exchanges one of his violins for a piano (assume that it cost Jorge $100 to make the violin.). On September 1, 2020, Jorge discovers a stock certificate hidden in the piano. Jorge sells the stock October 1, 2021. The stock had a fair market value of $100 on November 1, 2019; $120 on September 1, 2020; and $105 on October 1, 2021. What is the amount of gain or loss, and the character of the gain or loss, that Jorge needs to report in 2018, 2019 and 2020? Give reasons to substantiate your answers.