18. Christie's father passes away seven months after he was diagnosed with cancer. In his will be leaves her everything, including shares of stock he had purchased for $1,000 but had a fair market value of $12,000 at the time of his death. Christie subsequently sells the stock for $19,000. What is Christie's capital gain on the transaction? a. $7,000 b. $11,000. c. $18,000. d. $19,000. 19. Which of the following statements regarding installment sales is correct? a. All payments received by the seller in an installment sale are considered interest income. b. At the death of the seller, the principal balance of the installment sale is included in the seller's gross estate. C. The present value of the expected remainder value of the property sold in an installment sale is subject to gift tax at the date of the transfer. d. An installment sale would never be used with a related party. 20. In 2018, Roxanne paid Badlaw University $12,000 for her nephew's tuition and gave her nephew $25,000 in cash. Roxanne is single and did not make any other gifts during the year. What is the amount of Roxanne's taxable gifts for the year? a. $0. b. $2,000. c. $10,000. d. $24,000 21. During the year, Johnson created a trust for the benefit of his five children. The terms of the trust declare that his children can only access the trust's assets after the trust has been in existence for 15 years and the trust does not include a Crummey provision. If Johnson transfers $85,000 to the trust during the year, what is his total taxable gifts for the year? a. So. b. $10,000 c. $60,000. d. $85,000