Eight years ago, SW purchased 1,000 shares of Delta stock. On May 20 of the current year, it sold these shares for $90 per share. In each of the following cases, compute SWs recognized gain or loss on this sale:

a. SWs cost basis in the 1,000 shares was $104 per share. It did not purchase any other Delta shares during this year.

b. SWs cost basis in the 1,000 shares was $104 per share. It purchased 1,200 shares of Delta on May 1 for $92 per share.

c. SWs cost basis in the 1,000 shares was $104 per share. It purchased 1,200 shares of Delta on June 8 for $92 per share.

d. SWs cost basis in the 1,000 shares was $79 per share. It purchased 1,200 shares of Delta on June 8 for $92 per share.