14-26 Sale of Inherited Property. D inherited two acres of commercial real estate from her grandmother, who had a basis in the property of $52,000, when it had a fair market value of $75,000. For estate tax purposes, the estate was valued as of the date of death, and estate and inheritance taxes of $8,250 were paid by the estate on this parcel of real estate. a. How much gain or loss will be realized by D if she sells the property for $77,000? b. What would be your answer if the sale price were $66,000