4. (2 points) Sheila sold land to her sister, Elaine, for its FMV, $40,000. Sheila's basis in the land was $45,000 at the time of the sale. a. What is Sheila's realized and recognized loss on this transaction? b. One year later, Elaine sold the land to an unrelated third party for $44,000. What is Elaine's realized and recognized gain