Joan is a one-third partner in the PDJ Partnership. PDJ Partnership uses the proration method to allocate income and losses to partners with varying interests. On May 1 , Joan sells her interest to Freddle for a cash payment of $96,850. On January 1, Joan's basis in PDJ is $80,300. PDJ generates $61,800 of ordinary income and $9,600 of tax-exempt income during the first four months of the year. PDJ has the following assets and no llabilities at the sale date: Note: Do not round intermedlate calculations. Round your final answer to the nearest whole dollar amount. What is the amount and character of Joan's gain or loss on the sale