LO.2 As a result of a casualty event, Thelma disposed of tangible personal property (a

§ 1231 asset) at a realized and recognized gain. At the time of the casualty, the property was worth substantially less than Thelma had paid for it and had an adjusted basis of zero. This was her only business casualty, and she has some § 1231 lookback loss. Is the resulting gain a casualty gain taxed as a long-term capital gain, a gain taxed as an ordinary gain, or a casualty gain taxed as a § 1231 gain?