Colin receives a lump-sum distribution of employer securities (1,000 shares) from his stock bonus plan in Year 1 worth $140,000 ($140 per share). The total value of his employer contributions over the years was $30,000. Colin sells all of his distributed shares 3 months after he received it as a distribution from the qualified plan. He received proceeds of $150,000 from the sale. How much is Colins long-term capital gain upon sale?

a. $110,000

b. $120,000

c. $30,000

d. $40,000