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PLEASE SHOW WORK!!!! Marco gifted Giorgio property which Marco bought five years ago for $15,000. At the time of the gift, the property's fair market

PLEASE SHOW WORK!!!!
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Marco gifted Giorgio property which Marco bought five years ago for $15,000. At the time of the gift, the property's fair market value was $35,000. Giorgio subsequently sold the property for $40,000. What amount of gain does Giorgio recognize? Select one: a. 20,000 b. $25,000 c. $5,000 d. $40,000 Clear my choice

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