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Brandon, an individual, began business four years ago and has sold 51231 www5000widno Bains within the last 5 years. Brandon owned each of the assets

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Brandon, an individual, began business four years ago and has sold 51231 www5000widno Bains within the last 5 years. Brandon owned each of the assets for several years in the current sold the following business assets Asset Original Cost Accumulated Depreciation Gain/Loss Machinery $30,000 $7.000 $10,000 Land 40.000 0 20.000 Building 90,000 20,000 (5.000) What is the amount and character of these gains/losses that are recognized on the tax return? O $25,000 ordinary income. O $25,000 capital gain. O $12,000 ordinary income and $13,000 capital gain. $13,000 ordinary income and $12,000 capital gain. None of these

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