Firm J sold marketable securities to Company B. Firm J's tax basis in the securities was $65,000. Compute Firm J's recognized gain or loss if:

Required:

1. The selling price was $79,250, and Firm J and Company B are unrelated parties.
2. The selling price was $79,250, and Firm J and Company B are related parties.
3. The selling price was $56,200, and Firm J and Company B are unrelated parties.
4. The selling price was $56,200, and Firm J and Company B are related parties.