Bruce and Caroline were divorced in 2016. Their only marital property consisted of a personal residence (fair market value of $400,000, cost of $200,000), and publicly-traded stocks (fair market value of $800,000, cost basis of $500,000). Under the terms of the divorce agreement, Caroline received the personal residence and Bruce received the stocks. In addition, Caroline was to receive $50,000 for eight years. 1. If the $50,000 annual payments are to be made to Caroline or her estate (if she dies before the end of the eight years), the payments will qualify as alimony. II. Caroline has a taxable gain from an exchange of her one-half interest in the stocks for Bruce's one-half interest in the house and cash. If Bruce sells the stocks for $900,000, he must recognize a $400,000 gain. IIT. Only III is true Only I and III are true. Only I and II are true. O1, II, and III are true None of these are true