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What is the amount and nature of Mary gain

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Problem - In 2019, Mary sells for $24,000 a machine used in her business. The machine was purchased on May 1, 2017, at a cost of $22,000. Mary has deducted depreciation on the machine of $6,000. What is the amount and nature of Mary's gain as a result of the sale of the machine?

a. $2,000 Section 1231 gain

b. $8,000 ordinary income under Section 1245

c. $6,000 ordinary income and $2,000 Section 1231 gain

d. $6,000 Section 1231 gain and $2,000 ordinary income under Section 1245

e. None of the above

Reference no: EM132676052

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