Blair, Whose Tax Rate Is 24%, Sells One Tract of Land

Blair, whose tax rate is 24%, sells one tract of land at a gain of $29,000 and another tract of land at a gain of $11,000. Both tracts of land are Sec. 1231 property. She has never had any other Sec. 1231 transactions. How are the gains taxed?

A) a net capital gain of $40,000 which is not taxed
B) ordinary income of $40,000 taxed at 25%
C) ordinary income of $40,000 taxed at 28%
D) a net capital gain of $40,000 taxed at 15%