In 2012,Terri Purchased 260 Shares of Flowers R Us Stock

Multiple Choice

In 2012,Terri purchased 260 shares of Flowers R Us stock at a cost of $9,600 as an investment.In 2017,when the fair market value was $11,400,Terri gave the stock to her daughter,Michele.Assuming no gift tax was paid,if Michele sells the stock for $13,800,she will recognize:

A) no gain or loss.
B) $1,800 gain.
C) $2,400 gain.
D) $4,200 gain.