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Dr. Miller, a sole proprietor, bought medical equipment in 2016 for 600,000. He correctly took depreciation expense on this equipment of 312,000 and then sold
Dr. Miller, a sole proprietor, bought medical equipment in 2016 for 600,000. He correctly took depreciation expense on this equipment of 312,000 and then sold this equipment in the current year before his retirement to a premier medical center in Canada for 625,000. What is the capital gain recognized pursuant to 1231?
A. 625,000
B. 312,000
C. 313,000
D. 25,000
E. None of the above
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