2) Grace Gunther purchased King Corporation stock on March 18, 2017, and on December 23, 2017, she gave the stock to her son, Jack. She paid $12,000 for the stock and the fair market value at the time of the gift was $13,000. On October 14, 2018, Jack sold the stock for $14,500. (a.) Does Jack have short-term or long-term gain or loss and how much? (b.) If the value of the stock at the time of the gift was $10,500, and Jack sold it on October 14, 2018, for $9,500, does he have short-term or long-term gain or loss and how much