Oliver owns 50% of an S corporation's stock with a basis in his stock of $50,000 on January 1. In addition, the corporation owes Oliver $40,000 on January 1. Oliver's share of the 5 corporation's ordinary loss is $80,000 for the current year. Oliver's share of the Scorporation's ordinary income next year is $20,000. On December 31 of this second year, the note is repaid. Due to the repayment of the note, what must Oliver report? A No gain or loss B $7,500 long-term capital gain C $10,000 long-term capital gain D $30,000 long-term capital gain