Vertigo, Inc., has a 2019 net 1231 gain of $76,000 and had a $7,000 net 1231 loss in 2018, a $15,000 net 1231 loss in 2017 (and no other prior year losses). For 2019, Vertigos net 1231 gain is treated as: a. $54,000 long-term capital gain and $22,000 ordinary gain. b. $76,000 capital gain. c. $54,000 long-term capital gain and $22,000 ordinary loss. d. $76,000 ordinary gain. e. None of the above.