During 20X1, Taxpayer, an individual, obtained the following results with various transactions related to his properties: Short-term capital gain of $18,000 Long-term capital loss of $25,000 What is the realized and recognized gain or loss in 20X1 for the Taxpayer in Puerto Rico? Select one: a. Short-term realized capital gain $18,000; recognized capital loss $7,000. b. Net long-term capital loss $7,000; recognized capital loss $7,000. c. Net long-term capital loss $7,000; recognized capital loss $1,000. d. Net long-term capital loss $7,000; recognized capital loss $3,000.