During the current year, Stan sells a tract of land for $$800,000.$ The property was received as a gift from Maxine on March $10,1995,$ when the property had a $$310,000$ fair market value $($FMV$).$ The taxable gift was $$300,000$ because the annual exclusion was $$10,000$ in $1995.$ Maxine purchased the property on April $12,1980,$ for $$110,000.$ At the time of the gift, Maxine paid a gift tax of $$12,000.$ In order to sell the property, Stan paid a sales commission of $$16,000.$

Read the requirements.

Requirement a$.$ What is Stan's realized gain on the sale?

Select the formula, then calculate Stan's realized gain on the sale. $($Do not round intermediary calculations. Only round the amounts you input in the cells to the nearest dollar.$)$

$\backslash$table$[[$Amount realized,$$,784,000],[$Minus: $,$ Basis,,$(118,000)$