When Austin Development LLC was formed, Michelle contributed land (value of $1,800,000 and basis of $600,000), and Chadwick contributed cash of $1,000,000 and mineral rights (value of $800,000 and basis of $720,000). Both members received a 50% interest in LLC profits and capital.

If Austin Development sells the land five years later for $2,500,000, Michelle reports a ----?------ gain?