Stella Purchased Vacant Land in 2012 That She Subdivided for Resale

Stella purchased vacant land in 2012 that she subdivided for resale as lots.All 10 of the lots were sold during 2019. Each lot had a tax basis of $12,000 and sold for $35,000.Stella made no substantial improvements to the lots.She acted as her own real estate broker; so there were no sales expenses for selling the lots.Which of the following statements is correct?

A) Stella must hold the lots for at least 10 years before she is eligible for the special capital gain treatment of § 1237.
B) The $230,000 gain from the sale of the 10 lots is all ordinary income.
C) All of the $230,000 gain from the sale of the 10 lots is long-term capital gain.
D) To be eligible for the special capital gain treatment of § 1237, Stella must be a real estate dealer.
E) None of these.