In $2016,$ Minjun, who is single, acquired original issue stock in Blue Corporation at a cost of $$60,000.$ The stock meet the definition of bot IRS Code Section $1202$ and $1244$ stock. This year Minjun sold the Blue Stock. Determine the amount and nature of Minjun$$s gain$/$loss recognized this year in each of the following secnarios:

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a$)$ The stock sold for $$5,000.$ Minjun$$s sale a Blue Corp stock produces a total loss of $ of which $ is treated as a capital loss.

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b$)$ The stock is sold for $$500,000.$ Minjun$$s recognized gain is $