On March 1, 2015, Lois learned that she was bequeathed 1,000 shares of Race Corp. common stock under the will of her uncle, Pat. Pat had paid $5,000 for the Race Corp. stock in 2010. Fair market value of the Race Corp. stock on March 1, 2015, the date of Pats death, was $8,000 and had increase to $11,000 six months later. The executor of Pats estate elected the alternative valuation for estate tax purposes. Lois sold the Race Corp. stock for $16,000 on September 18, 2015, the date the executor distributed the stock to her.

Lois should treat the 1,000 shares of Race Corps stock as a

a)Short-term Section 1231 Asset.

b)Long-term Section 1231 Asset.

c)Short-term capital asset.

d)Long-term capital asset.