Question: James has been an active postage-stamp collector for a number of years. A few years ago, he bought a scarce U.S. postage stamp for $4000.

James has been an active postage-stamp collector for a number of years. A few years ago, he bought a scarce U.S. postage stamp for $4000. He has now decided to sell the stamp. If he sells it at an auction and receives $5400 but pays a 15% sales commission on the amount received, what will be James capital gain/loss?

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