Tikka thinks that the value of Tim, Inc's shares will decline in 2 months, so he decides to borrow 1,000 shares from his broker to sell that must be replaced in 90 days. If the orginal 1000 shares were sold for $50000, and Tikka buys 1000 replacement shares for 70000, what statement is correct?

a/ A long term capital gain of $20k

b/ A short term capital gain of $20k

c/ A short term capital loss of $20k

d/ None of them are correct

e/ A long term capital loss of $20k