Hunter receives a gift from his grandmother on December 1, 2021. Grandmother paid $50,000 for the property on September 10, 1998. At the time of the gift, the property was appraised at $38,000, and grandmother paid gift tax of $400. Hunter sells the property on April 1, 2022 for $34,000. Hunter's loss on the sale is O $16,000 loss $3,600 loss O $4.000 loss $15,600 loss O $16,000 loss