7. Vertical, Inc., has a 2015 net 1231 gain of $67,000 and had a $22,000 net 1231 loss in 2014. For 2015, Verticals net 1231 gain is treated as:

	a.	$45,000 long-term capital gain and $22,000 ordinary loss.
	b.	$67,000 ordinary gain.
	c.	$45,000 long-term capital gain and $22,000 ordinary gain.
	d.	$67,000 capital gain.
	e.	None of the above.