Irby Inc Was Incorporated in 2014 and Adopted a Calendar Year

Multiple Choice

Irby Inc. was incorporated in 2014 and adopted a calendar year. Here is a schedule of Irby's net Section 1231 gains and (losses) reported on its tax returns through 2019. $$\begin{array} { c c c c c c } 2014 & 2015 & 2016 & 2017 & 2018 & 2015 \\\$ ( 4,500 ) & \$ ( 3,000 ) & \$ ( 7,890 ) & \$ 45,600 & \$ - 0 - & \$ 1,300\end{array}$$ In 2020, Irby recognized a $14,750 gain on the sale of business land. How is this gain characterized on Irby's tax return?

A) $14,750 Section 1231 gain.
B) $10,890 ordinary gain and $9,415 Section 1231 gain.
C) $14,750 ordinary gain.
D) None of these choices are correct.