Mrs. Wolter, an unmarried individual, owns investment land with a $138,000 basis, a nine year holding period, and a $200,000 FMV. Compute the after-tax (income tax and Medicare contribution tax) sale proceeds in each of the following cases:

1. She sells the land herself. Her taxable income before considering the gain on sale is $310,000.

2. She gives a 25 percent interest in the land to each of her four single adult grandchildren (without incurring a gift tax) who immediately sell it. Each grandchilds taxable income before considering the gain on sale is $8,000.

3. She dies while still owning the land. Her single daughter inherits the land and immediately sells it. The daughters taxable income before considering the gain on sale is $79,000.