Greg received a gift of 300 shares of stock from his sister, Terri. The stock cost Terri $30,000 five years ago. At the date of the gift, the stock is worth $22,500.

1. If the stock is sold for $34,000, calculate the amount and nature of the gain or loss.
2. If the stock is sold for $20,000, calculate the amount and nature of the gain or loss.
3. If the stock is sold for $28,000, calculate the amount and nature of the gain or loss.