Firm J sold marketable securities to Company B$.$ Firm J$\text{'}$s tax basis in the securities was $$51,750.$ Compute Firm J$\text{'}$s recognized gain or

loss if:

Required:

a$.$ The selling price was $$70,250,$ and Firm J and Company B are unrelated parties.

b$.$ The selling price was $$70,250,$ and Firm J and Company B are related parties.

c$.$ The selling price was $$48,600,$ and Firm J and Company B are unrelated parties.

d$.$ The selling price was $$48,600,$ and Firm J and Company B are related parties.

Note: For all requirements, if the results of a transaction do not result in a gain or loss, select $\text{'}$No gain$/$loss$\text{'}.$