$2.$ Walter sells land with an adjusted basis of $$175,000$ and a fair market value of $$160,000$ to his mother, Shirley, for $$160,000.$ Walter reinvests the proceeds in the stock market. Shirley holds the land for one year and a day and sells it in the marketplace for $$169,000.$ a$.$Determine the tax consequences to Walter. b$.$Determine the tax consequences to Shirley.