Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years:

Date purchased	Shares	Basis
7/10/2011	400	$12,000
4/20/2012	300	$10,750
1/29/2013	500	$12,230
11/02/2015	250	$7,300

If Dahlia sells 800 shares of Microsoft for $40,000 on December 20, 2021, what is her capital gain or loss in each of the following assumptions?