1) according to the manufacturing-based definition of quality: a) quality is the degree of excellence at an acceptable price and the control of variability at an acceptable cost. b) quality depends on how well the product fits patterns of consumer preferences. c) even though quality cannot be defined, you know what it is. d) quality is the degree to which a specific product conforms to standards. e) quality lies in the eyes of the beholder.

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