Elm Inc. (a C corporation) sold equipment for $80,000. Elm bought the equipment two year for $70,000 and has since claimed $20,000 of depreciation deductions. What is the amour character of Elm's gain (loss) on the sale? O $20,000 ordinary gain, and $10,000 capital gain $10,000 ordinary gain, and $20,000 capital gain O $35,000 capital gain O $30,000 ordinary gain