Dons family loves to pass things onto their children. When Don was 22 years hold his dad gave him some stock in Walmart that he had purchased when Don was born. Dons dads basis in the stock was $3,000 and the stock was worth $30,000 when Dons dad gifted the stock. Don later gifted the stock to his son Eddy. When Don gifted the stock to Eddy, the stock was worth $85,000. Unfortunately, Eddy never had children and needed the money, so 6 months after Don gave Eddy the stock, he sold it for $80,000. What is Eddys gain or loss on the sale? Is it a short- or long-term holding period?

A. $50,000 long-term gain

B. $5,000 short-term loss

C. $77,000 short-term gain

D. None of the other answer choices are correct