10. Assume, for Ed above, that the FMV was $120.000 at the time of the gift and his father's basis was $160,000. Gift tax of $10,000 was paid. Ed later sells the property for $105,000. What is his gain or loss on the sale? a. $55,000 loss b. $50,000 loss c. $25,000 loss d. $15,000 loss e. None of the answers provided is correct