Please build research memo responding to the question below:

Our client, Happy T Behere, inherited a peanut cartoon from her mother more than a year ago. At the

time of her death, the cartoon was valued at $3,000. Originally, her mother had purchased it at a charity

auction for $1,000. At the alternative valuation date the cartoon was valued at $2,500. It is a valuable

cartoon as it featured a character, Charlotte Braun, included in only 10 comic strips. It is currently listed

and is expected to sell at an auction house for $10,000 tomorrow. She will have to pay a commission of

3% to sell it. She intends to split the proceeds with her brother. What is the tax impact of her selling the

Peanuts cartoon? She doesn't want to accept the final auction amount before hearing from you. Both

Happy and her brother are at 22% marginal tax bracket.

Your memo should include the four sections of a research memo discussed in class. These would be:

1. Facts

2. Question or Query

3. Discussion

4. Conclusion

Please make sure to reference sources that can be relied upon in your discussion section. Also, address

the gift to her brother.

I need two pages