58. Nicky receives a car from Sam as a gift. Sam paid $40,000 for the car. He had used it for business purposes and had deducted $16,000 for depreciation up to the time he gave the car to Nicky. The car fair market value of the car is $21,000. a. Assuming Nicky uses the car for business purposes, what is her basis for depreciation? b. Assume Nicky deducts depreciation of $5,500 and then sells the car for $20,000. What is her realized gain or loss? c. Assume Nicky deducts depreciation of $5,500 and then sells the car for $14,000. What is her recognized gain or loss?