Gary dies leaving Sherri stock of CC Company. Gary had acquired the stock in November of this year and died December 10th of this year. The value of the stock on the date of death was $1,000 and Gary’s adjusted taxable basis was $1,200. Presuming that Sherri sells the stock for $1,050 on February 14th of the next year, what is her tax consequence? Question 1 options: She is subject to the double basis rule: no gain or loss. She has a short-term capital loss of $150. She has a long-term capital loss of $150. She has a long-term capital gain of $50.