Exercise 8-3 (Algorithmic) (LO. 2) Olivia wants to buy some vacant land for investment purposes. She currently cannot afford the full purchase price. Instead, Olivia pays the landowner $26,600 to obtain an option to buy the land for $532,000 anytime in the next four years. Fourteen months after purchasing the option, Olivia sells the option for $33,250. What is the amount and character of Olivia's gain or loss? She has of $