During the current year, SRT Corporation sells a tract of land for $105,000. The sale is made to Sara, SRT Corporation's sole shareholder. SRT Corporation originally purchased the lak Beed the requirements $117,000. Requirement a. What is the amount of gain or loss that SRT Corporation will recognize on the sale during the current year? First, calculate the gain or loss realized and then calculate the gain or loss recognized in the current year. (For a gain or loss with a zero value, enter 50 and select N/A) Amount Gain or loss ONA Gain or loss realized Gain or loss recognized 12000 gain Requirement b. Assume that in the following year, Sara sells the land for $107,000. What is the amount of gain or loss Sara will recognize? What are the tax consequences to SRT Corporation upon the subsequent sale by Sara? What is the realized gain or loss and the amount that Sara will recognize? First, calculate the gain or loss realized and then calculate the gain or loss recognized in the current year. (For a gain or loss with a zero value, enter $0 and select N/A) Amount Gain or loss Gain or loss realized Gain or loss recognized What are the tax consequences to SRT Corporation upon the subsequent sale by Sara? OA. There are no tax consequences to SRT Corporation upon the subsequent sale by Sara OB The unused loss can be carried over to the next year OC. The gain must be recognized by SRT Corporation in the current year. OD. The unused loss can be recognized in the current year. Requirement c. Assume that in the following year, Sara sells the land for $96,000. What is the amount of gain or loss Sara will recognize? First, calculate the gain or loss realized and then calculate the gain or loss recognized in the current year. (For a gain or loss with a zero value, enter 50 and select N/A) Amount Gain or loss Gain or loss realized