Tiffany received 600 shares of her employer's stock as a bonus. She must return the stock to the company if she leaves before the 4-year vesting period ends. The fair market value of the stock at the time it was issued was $15,000. After 4 years, the stock vests when it has a fair market value of $32,000. Two years after vesting, Tiffney sells the stock for $44,000. If Tiffney makes no special election, how much income or gain does she recognize when she sells the stock? (step by step calculation please, correct answer is $12,000)