2.In January, Lance sold stock with a cost basis of $26,000 to his brother, James, for $24,000, the fair market value of the stock on the date of sale. Five months later, James sold the same stock through his broker for $27,000. (a)What is the amount, if any, of Lance's gain or loss to be reported? (b)What is the amount, if any, of James' gain or loss to be reported