Victor Is a One-Third Partner in the VRX Partnership, with an Outside

Victor is a one-third partner in the VRX Partnership, with an outside basis of $156,000 on January 1.Victor sells his partnership interest to Raj on January 1 for $200,000 cash.The VRX Partnership has the following assets and no liabilities as of January 1:
Cash
Accourts receivable
$\begin{array}{llll} & \text { Basis } &\text { FMV } \\ \text { Cash } &\$27,000&\$27,000\\ \text {Accourts receivable } &-0-&18,000\\ \text {Inveritory } &103,500&121,500\\ \text { Equipment } &270,000&337,500\\ \text {Stock irvestrnent } &\underline{67,500}&\underline{62,500}\\\text {Totals}&\underline{\$468,000}&\underline{\$566,500}\end{array}$
The equipment was purchased for $360,000 and the partnership has taken $90,000 of depreciation.The stock was purchased seven years ago.What is the amount and character of Victor's gain or loss on the sale of his partnership interest?