Exercise 19-20 (Algorithmic) (LO. 4) Merle gives stock to her daughter Lucy. The stock has a basis to Merle of $362,500 and a value of $326,250 on the date of the gift. No gift tax was incurred on the transfer. What are Lucy's income tax consequences if she later sells the stock for: If there is no gain or loss, enter "0" and select "No gain or loss" from the drop down. a. $308,125? Feedback b. $344,375? Feedback c. $398,750? X Loss No gain or loss Gain