Kimberly Gave 100 Shares of Stock to Her 24-Year-Old Son

Kimberly gave 100 shares of stock to her 24-year-old son, Brandon.Kimberly purchased the stock 9 months ago for $10 per share.On the gift date, the stock was worth $40 per share.Two months later, Brandon sells the 100 shares of stock for $60 per share.Kimberly and Brandon are in the 24 percent and 10 percent marginal tax brackets, respectively.How much family tax savings is achieved through this transaction?

A) $600
B) $920
C) $700
D) $1,200