Meghan died on March 5, Year 5. Tim inherited publicly traded stock from Meghan, which had an FMV of $3,400 on her date of death. The stock was distributed to him on July 10, Year 5. when the FMV was $4.500. The alternate valuation date (AVD) was elected for the estate, and the stock had an FMV of $8.000 on that date. Meghan originally purchased the stock in Year 1 for $1.200. If Tim sold the stock for $4.500 on the day he received it, how much is his gain or loss? $3.500 sain 55,300 gain $1.100 gain D