Clara sold 200 shares of ABC stock for $22,500. Clara's investment portfolio includes the following purchases of ABC stock: 2006 100 shares at $100 per share 2008 50 shares at $110 per share 2012 125 shares at $130 per share 2013 75 shares at $125 per share Assuming Clara does not identify which shares she sold, she will recognize: 1) no gain or loss. 2) a $500 gain. 3) a $1,000 loss. 4) a $3,125 loss.