On March 1, 2018, Osvaldo sold land to his brother, Preet. Osvaldo had purchased the land years ago for $20,000. The sales price was equal to the current value of the land: $80,000. Preet agreed to pay Osvaldo $40,000 cash on the date of sale, plus installments of $10,000 on March 3, 2019 and $30,000 on March 3, 2020. Assume Preet also paid reasonable interest. Preet made all payments as agreed. On August 16, 2018, Preet sold 70% of the land for $48,000. On September 10, 2020, Preet sold the remaining land for $28,000. Determine the following (do not include interest in the figures below): Osvaldo's recognized gain/(loss) in 2018 Preet's recognized gain/(loss) in 2018 Osvaldo's recognized gain/(loss) in 2019 Osvaldo's recognized gain/(loss) in 2020