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Sadie sold 10 shares of stock to her brother, George, for $560 16 months ago. Sadie had purchased the stock for $720 two years earlier.

Sadie sold 10 shares of stock to her brother, George, for $560 16 months ago. Sadie had purchased the stock for $720 two years earlier. If George sells the stock for $880, what are the amount and character of his recognized gain or loss in the current year?

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