In 2013, Terri purchased 260 shares of Flowers R Us stock at a cost of $9,600 as an investment. In 2018, when the fair market value was $11,400, Terri gave the stock to her daughter, Michele. Assuming no gift tax was paid, if Michele sells the stock for $13,800, she will recognize: Multiple Choice no gain or loss. $1,800 gain. $2,400 gain. $4,200 gain.