On November 14, 2010, Patricia Primrose Purchased a Rare Gem

On November 14, 2010, Patricia Primrose purchased a rare gem stone as an investment. On March 5, 2012, she exchanged it for another rare gem in a nontaxable exchange. On June 9, 2012, she sold the latter stone for cash and realized a gain. ftis gain will be treated as

A) a short-term capital gain.
B) a long-term capital gain.
C) part short-term and part long-term capital gain.
D) part nontaxable and part short-term capital gain.
E) part nontaxable and part long-term capital gain.