The results of UNA Corporation's first six years of operations are presented below.

Year	Results of Operations
1	Section 1231 losses of $50,000
2	Section 1231 losses of $30,000
3	Section 1231 gains of $75,000
4	Section 1231 losses of $20,000
5	Section 1231 losses of $30,000
6	Section 1231 gain of $80,000

UNA corporation's yearsix Section 1231 gain can best be characterized as

$80,000 Section 1231 gain.

$50,000 ordinary income; $30,000 Section 1231 gain.

$80,000 ordinary income.

$55,000 ordinary income; $25,000 Sec. 1231 gain.