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Juliana purchased land three years ago for $90,100. She gave the land to Tom, her brother, in the current year, when the fair market value

Juliana purchased land three years ago for $90,100. She gave the land to Tom, her brother, in the current year, when the fair market value was $126,140. No gift tax is paid on the transfer. Tom subsequently sells the property for $113,526.

What is Toms gain on sale?

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