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 35 percent and 10 percent marginal tax brackets, respectively. How much family tax savings is achieved through this transaction?

A) $500
B) $1,000
C) $1,250
D) $1,750