Bob sells land to his son, Brad, for $50,000, its current fair market value. Bob's basis is $40,000. Which of the following is a correct answer. a. Bob has a $10,000 capital gain. b. Bob has no gain or loss as he sold the land to a related party c. Brad's basis is $40,000 as this is a part-gift part-sale transaction d. Bob has a realized gain that he does not have to recognize pursuant to Section 267. e. None of the above