Copper Corporation sold machinery for $47,000 on December 31, 2020. The machinery had been purchased on January 2, 2017, for $60,000 and had an adjusted basis of $41,000 at the date of the sale. For 2020, what should Copper report?

a.Ordinary income of $6,000.

b.A 1231 gain of $6,000.

c.A 1231 gain of $6,000 and $3,000 of ordinary income.

d.A 1231 gain of $3,000 and $3,000 of ordinary income.