Larry and Moe are equal partners in the capital and profits of The LM Partnership. They are not related. On August 1, 2017, Larry sold 100 shares of Last Chance Mining Corp. stock to the partnership for its fair market value of $7,000. Larry had purchased the stock in 2000 for $10,000. What, if any, is Larrys recognized loss on the sale of this stock?

a. $ -0-

b. $3,000 long-term capital loss

c. $1,500 long-term capital loss

d. $3,000 ordinary loss