Chrissy receives 200 shares of Chevron Texaco stock as a gift from her father. The stock cost her father $9,000 10 years ago and is worth $10,500 at the date of the gift.

a.If the stock is sold for $12,500, calculate the amount of the gain or loss on the sale.

b.If the stock is sold for $4,600, calculate the amount of the gain or loss on the sale.