answer is E

16. Oscar sells land (AB $100,000) to his son, Rob, for its FMV of $73,000. Which of the following statements is true? a. Oscar's recognized loss is $27,000. b. If Rob sells the land for $85,000, his recognized loss is $15,000. c. If Rob sells the land for $103,000, his recognized gain is $30,000. d. If Rob sells the land for $60,000, his recognized loss is $40,000. e. None of the statements above is true (so pick E)