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Maddie owns a home that she inherited from her grandmother, Paula, seven months ago. The...

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Accounting

Maddie owns a home that she inherited from her grandmother, Paula, seven months ago. The fair market value of the house at the date of Paula's death was $475,000. Her grandmother paid $27,000 for the home in 1960. Based on an appraisal, the house is currently worth $520,000. If Maddie sells the house for its appraised value, and pays $31,000 to a real estate agent, what is Maddie's realized gain or loss.

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