1. Larry purchased a property for $20,000 in 2015. In 2017, Larry gave that property to his sister when its FMV was $50,000. No gift taxes were paid. Larrys sister died at the end of 2017 and bequeaths the property back to Larry when its FMV was $52,000. In 2018, Larry sold the property for $55,000. How much gain on the sale must he recognized?