Dudley Morgan gives Barbara Norman property worth $325,000. Dudley's basis in the

property is $220,000.

(a.) If Barbara sells the property for $375,000, what is her gain or loss on the sale?

(b.) If Barbara sells the property for $295,000, what is her gain or loss?

(c.) If the fair market value equals $270,000 and Barbara sells the property for

$230,000, what is the gain or loss?