Acme Corp sold Land with a basis of $200,000 for $350,000 in 2020.   In the prior 5 years, the company had the following fixed asset transactions:

2019: Sold Equipment with a historical cost of $50,000, A/D of $20,000. Selling price of $40,000.
2018:   Sold Equipment with a historical cost of $60,000, A/D of $40,000. Selling price of $15,000.
2017:   Sold a warehouse building with a historical cost of $300,000, A/D of 125,000 (straight-line). Selling price of $360,000.
2017:   Sold land with a historical cost of $100,000 for $119,000.
2016:   No asset sales in this year, or in the years 2010 to 2015.

What is the amount of gain on the 2020 land sale, what is the character of that gain, and how is it taxed?