42. Nikeya sells land (adjusted basis of $ 120,000) to her adult son, Shamed, for its appraised value of $95,000. Which of the following statements is correct? a. Nikeya's recognized loss is $25,000 ($95,000 amount realized-$120,000 adjusted basis). b. Shamed's adjusted basis for the land is $120,000 ($95,000 cost+ $25,000 disallowed loss for Nikeya). c. If Shamed subsequently sells the land for $112,000, he has no recognized gain or loss d. Only a. and b. are correct. e. Choices a., b., and c. are correct