Acontractor and southampton, inc. have a contract, which calls for the contractor to build a building with the completion by june 15. if the building is not completed by that date, the contract calls for the contractor to pay $100 per day in damages. the $100 per day is:

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