Problem $17-06($Static$)[$LO $17-2]$

Will and Sandra Emmet were divorced this year. As part of the property settlement, Sandra transferred marketable securities to Will. Her basis in the securities was $$89,800,$ and their FMV was $$168,000.$ Four months after the divorce, Will sold the securities for $$175,250.$ Assume the taxable year is $2023.$

Required:

How much income does Will recognize on receipt of the securities from Sandra?

How much gain does Will recognize on the sale of the securities$?$

Does Sandra recognize any gain on the transfer of the securities to Will?