Emmy has a $55,000 net 1231 gain for 2018. In 2015, Emmy had a $30,000 net 1231 loss. Disregarding the possibility of 1245 or 1250 recapture, for 2018, Emmy's gain is treated as:

a. A $55,000 ordinary loss. b. A $55,000 ordinary gain. c. A $25,000 long-term capital gain and a $30,000 ordinary gain. d. A $30,000 long-term capital gain and a $25,000 ordinary gain.