Amber's mother and father gave her a condo on 7/4/2020. Her parents purchased the condo on 9/13/2002 for $158,759. The fair market value of the house at the time of the gift was $265,000. Amber's parents made improvements to the condo of $65,000. What is the amount of the gift that can be excluded from gift tax?

Select one:

a. $0

b. $15,000

c. $41,241

d. $30,000