Eight years ago, SW purchased 1,475 shares of Delta stock. On May 20 of the current year, it sold these shares for $72 per share. In each of the following cases, compute SWs recognized gain or loss on this sale:

1. SWs cost basis in the 1,475 shares was $83 per share. It did not purchase any other Delta shares during this year.
2. SWs cost basis in the 1,475 shares was $83 per share. It purchased 1,675 shares of Delta on May 1 for $74 per share.
3. SWs cost basis in the 1,475 shares was $83 per share. It purchased 1,675 shares of Delta on June 8 for $74 per share.
4. SWs cost basis in the 1,475 shares was $64 per share. It purchased 1,675 shares of Delta on June 8 for $74 per share.