Jamal owns 245 shares of Yancy Corporation common stock, purchased during the prior year: 125 shares on July 5, for $15,000; and 120 shares on October 15, for $18,000. When Jamal sells 100 shares for $16,000 on July 18 of the current year, he does not identify the particular shares sold. Determine the amount and character of the gain. Using the FIFO method Jamal will ecognizeof of S