A taxpayer purchased used business equipment on November 20, 2015, for $100,000. The equipment was sold for $60,000 on August 25, 2017. Depreciation information is as follows:

	Accelerated depreciation taken	$47,500
	Straight-line depreciation (7-year life) would have been	28,500

How will the gain or loss on the sale of this equipment be treated for tax purposes?

		$7,500 ordinary income
		$7,500 long-term capital gain
		$7,500 short-term capital gain
		$7,500 Section 1231 gain
		None of the above