Bonita received a bequest of 100 shares of XYZ stock from a relative who died on March 1 of this year. The relative bought the stock in 1974 at a total cost of $5,500. The value of the 100 shares of XYZ stock was $5,750 on March 1. On July 1, Bonita sells the stock for $6,250, incurring expenses for the sale of $250. The taxable gain on the sale will be a; $250 short-term capital gain $250 long-term capital gain Correct $500 short-term capital gain $500 long-term capital gain