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What is the amount and character of Butte gain or loss

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Question - Butte sold a machine to a machine dealer for $50,900. Butte bought the machine for $54,100 several years ago and has claimed $12,050 of depreciation expense on the machine. What is the amount and character of Butte's gain or loss?

a. $8,850 §1231 loss.

b. $3,200 §1231 loss.

c. $8,850 ordinary gain.

d. $8,850 capital gain.

e. None of the choices are correct.

Reference no: EM132569723

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