Sara Nade had 2021 capital asset transaction as noted below. For each asset disposition, determine the amount of her gain or loss for tax purposes.

1. On March 13th Sara sold an oil pointing that had hung in her living room as a wall decoration for more than 10 years. The painting had been completed by a newly acclaimed local artist and fetched a fine price of $16, 000 from a gallery. Sara bought this painting in 2010 for only $500.