Donald owns investment land with an adjusted basis of $39,900 and fair market value of $34,700. He sells the land to his rother, George, for $31,900. George then sells the land to an unrelated third party for $60,200. (a) (7) Your answer is partially correct. What is Donald's realized gain/loss and recognized gainloss? (Do not leove any answer feld blank Enter Ofor amounts. Enter loss using either a negative sign preceding the number es. 45 or parentheses es. (45)) What is George's basis in the land purchased? George's basis in the land purchased