taxpayer purchased Whiteacre for $20,000. Consider the tax consequences toTaxpayer under the following alternative scenarios.a. Three years later, she sold the property for $50,000.b. When she bought the property she took out a $5,000 mortgage. She sold theproperty three years later for $55,000 cash. In addition to the cash paymentthe buyer also assumed the mortgage, which was still $5,000.c. Three years later, she sold the property for a painting. The painting wasworth $70,000. What is her basis in the painting?d. Three years later, she sold the property for legal services. The legal servicesotherwise would have cost her $25,000