James purchased 100 shares of OAK stock for $4,000 on March 31, 2020. He sold the shares on November 16, 2020 for $5,000. He has no current-year or carryover capital losses, and his only other income for the year consisted of wages. He will use the single filing status, and his 2020 taxable income is $88,000, placing him in the 24% tax bracket. What amount of tax will James owe on the gain from the sale of his shares of stock?

$150

$200

$240

$280