Divine apparel has 2,600 shares of common stock outstanding. on october 1, the company declares a $0.25 per share dividend to stockholders of record on october 15. the dividend is paid on october 31. record all transactions on the appropriate dates for cash dividends.

Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property