On April 1, George Hart, Jr. acquired a 25% interest in the Wilson, Hart, and Company partnership by gift from his father. The 25% partnership interest had been acquired by a $50,000 cash investment by Hart, Sr. 10 years ago. The fair market value of Hart, Sr.'s partnership interest was $60,000 at the time of the gift. Hart, Jr. sold the 25% intgerest for $85,000 on December 17. What type and amount of capital gain should Hart, Jr. report on his tax return?