Juliet sold a major portion of her investment portfolio during the current year. Each of the sales is described below: Fifty acres of suburban commercial property sold for $1,550,000. The land was inherited from her father eighteen months earlier when it was worth $1,100,000. Her father had paid $675,000 for the land thirty years earlier. Diamond and emerald necklace sold for $4,000 was received as a gift from her grandmother. Her grandmother had a basis of $4,500 and paid no gift taxes based on the fair market value on the date of gift of $3,750. A mountain cabin worth $105,000 was sold for $25,000, with the mortgage of $80,000 assumed by the buyer. The cabin had cost $85,000 and depreciation of $4,000 had been allowed related to rental usage. Calculate Juliet's gain or loss realized on each of these sales. 50 acres of commercial property Diamond and emerald necklace (blank 1) (blank 2) Mountain cabin (blank 3) AJ A