Exercise 4-23 (Algorithmic) (LO. 4) Cosper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $155,000, and it had a market value of $248,000 on the date of the transfer, Cecile sold the stock for $217,000 a month after receiving it: In addition Casper is required to pay Cecile $7,750 a month in alimony. He made five payments to her during the year. What are the tax consequences for Casper and Cecile regarding these transactions? Casper required to recognize any gain on the transfer of the stock to Cecile. Further, although he deduct anything related to the transfer of the stock, he may deduct thes of alimony payments. Cecile include the receipt of the stock in her gross income. She must, however, recognize a capital when the stock is sold and ecognize income from the alimony payments