Ronnie is considering making the following charitable contributions: Option 1: stock held for 2 months (basis $18,000, FMV $16,000) Option 2: stock held for 5 years (basis $15,000, FMV $16,000) Option 3: stock held for 3 years (basis $17,000, FMV $16,000) Option 4: cash of $16,000 (a) What would be the worst option for Ronnie to choose for the charitable contribution? Please circle the correct response. Option 1 Option 2 Option 3 Option 4 (b) What would be the best option for Ronnie to choose for the charitable contribution? Please circle the correct response. Option 1 Option 2 Option 3 Option 4 QUESTION 7 (CHAPTER 13) Frank exchanges his apartment building (FMV $600,000; AB $510,000) for Nico's apartment building (FMV $400,000; AB $90,000) and $200,000 cash. (a) What is Nico's recognized gain? (b) What is Frank's realized gain? (c) What is Frank's recognized gain? (d) What is Frank's basis in the building he receives from Nico?