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Now, assume that in the previous problem Jennifer sold the stock to Olga for $90,000 (instead of $60,000). What is the gain or loss that Jennifer should report (again, ignore any gift tax that may have been paid on the transfer from Betsy to Jennifer)?

a. There is no gain or loss

b. $15,000 gain

c. $40,000 gain

d. $90,000 gain

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