Joan Is a 1/3 Partner in the PDJ Partnership What Is the Amount and Character of Joan's Gain or May

Joan is a 1/3 partner in the PDJ Partnership. On May 1, Joan sells her interest to Freddie for a cash payment of $75,000. On January 1, Joan's basis in PDJ is $57,000. PDJ generates $60,000 of ordinary income and $9,000 of tax-exempt income during the first four months of the year. PDJ has the following assets and no liabilities at the sale date: $$\begin{array} { | l | r | r | } \hline & \text { Basis } & \text { FMV } \\\hline \text { Cash } & \$ 27,000 & \$ 27,000 \\\hline \text { Accounts receivable } & - 0 - & 18,000 \\\hline \text { Imventory } & 103,500 & 121,500 \\\text { Equipment } & 270,000 & 337,500 \\\hline \text { Stock investment } & 67,500 & 96,000 \\\hline \text { Total } & \$ 468,000 & \$ 600,000 \\\hline\end{array}$$ What is the amount and character of Joan's gain or loss on the sale?