In 2015, Grant purchased land for $104,050 for use in his business. He sold it in 2018 for $115,650. What is the amount and type of gain on this sale, before netting of any other gains and/or losses? Multiple Choice

$11,600 1231 gain.

$11,600 ordinary gain.

$11,600 short-term capital gain.

$11,600 long-term capital gain.