Elizabeth is marketing a new type of picture frame that she invented. She has developed a full identity for the product and wants to make sure that her design is protected before she takes it to market. She should seek a for her product to grant it legal protection.

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