60. Frank sells land which he has owned for five years for $45,000. Frank purchased the land for $54,000 and used it in his business. How much and what type of gain or loss will result from this sale? Select one: a. $9,000 section 1231 loss b. $9,000 long-term capital loss c. $9,000 recaptured ordinary loss d. No loss because the land was used for business