16. Nick inherits 100 shares of Moon Mining stock from his mother. The mother's estate did not make any elections on valuation. The stock was included in the estate at a value of $100,000. When Nick receives the stock he immediately sells it for $125,000. a) Does Nick recognize income from receiving the stock as an inheritance? Why or why not? b) Does Nick recognize gain or loss on the sale of the stock and if yes, how much is it? c) If there is a gain or loss recognized is it long-term or short term