Carlota and Dave own $75\%$ and $25\%$ of the stock of CD$,$ Inc., respectively. CD$,$ Inc. has generated a significant amount of earnings since it began business. During the current year CD distributed property to Carlota $($$$150,000$ FMV; adjusted basis $$48,000)$ and Dave $($$$52,500$ FMV; adjusted basis $$48,000).$ The property was all purchased by CD several years ago as investments. Carlota is in the $37\%$ marginal tax bracket and Dave is in the $32\%$ bracket.