Juliana purchased land three years ago for $119,800. She made a gift of the land to Tom, her brother, in the current year, when the fair market value was $167,720. No Federal gift tax is paid on the transfer. Tom subsequently sells the property for $150,948. a. Tom's basis in the land is $fill in the blank 1 and he has a realized of $fill in the blank 3 on the sale. b. Assume, instead, that the land has a fair market value of $107,820 on the date of the gift, and that Tom sold the land for $102,429. Tom's basis in the land is $fill in the blank 4 and he has a realized of $fill in the blank 6 on the sale.