Juliana purchased land three years ago for $57,700. She made a gift of the land to Tom, her brother, in the current year, when the fair market value was $80,780. No Federal gift tax is paid on the transfer. Tom subsequently sells the property for $72,702. a. Tom's basis in the land is $ and he has a realized of \$ on the sale. b. Assume, instead, that the land has a fair market value of $51,930 on the date of the gift, and that Tom sold the land for $49,334. Tom's basis in the land is $ and he has a realized of \$ on the sale