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What is the amount and character of butte gain or loss

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Reference no: EM132877282

Problem 1: Butte sold a machine to a machine dealer for $51,300. Butte bought the machine for $53,700 several years ago and has claimed $11,850 of depreciation expense on the machine. What is the amount and character of Butte's gain or loss?

Multiple Choice

A- $9,450 capital gain.
B- None of the choices are correct.
C- $9,450 ordinary gain.
D- $9,450 §1231 loss.
E- $2,400 §1231 loss.

Reference no: EM132877282

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