Benlow Company, a calendar year taxpayer, sold two operating assets this year. The first sale generated a $19,200 Section 1231 loss, and the second sale generated a $33,600 Section 1231 gain. As a result of these sales, Benlow should recognize: $14,400 gain treated as capital gain. $14,400 ordinary income. $19,200 ordinary loss and $33,600 gain treated as capital gain. None of the above