Please answer and include IRC Citation. Thanks

3. Abby sells real property for $300,000. The buyer pays $5,000 in property taxes that had accrued during the year while the property was still legally owned by Abby. In addition, Abby pays $15,000 in commissions and $3,000 in legal fees in connection with the sale. How much does Abby realize (the amount realized) from the sale of her property? a. $277,000 b. $282,000 $287,000 d. $300,000 None of the above IRC Citation: 4. Expenditures made for ordinary repairs and maintenance of property are added to the original basis in the determination of the property's adjusted basis whereas capital expenditures are not added to the original basis. True b. False IRC Citation: a. C. 5. Milton purchases land and a factory building for his business for $300,000 with $100,000 being allocated to the land. During the first year, Milton deducts cost recovery of $4,922. Milton's adjusted basis for the building at the end of the first year is $195,078 ($200,000 - $4,922). a. True b. False IRC Citation: C. 6. The amount of the loss basis of a gift will differ from the amount of the gain basis only if at the date of the gift the adjusted basis of the property exceeds the property's fair market value. True b. False IRC Citation: a. C