Frank purchased equipment for $50,000 on March 1, 2014. As of today, Frank has taken $20,000 of depreciation deductions on the equipment. Due to current market conditions, Frank decides to sell the equipment because he can sell it now for $60,000. How much and what type of gain does Frank recognize when he sells the equipment now?

	a.	$30,000 ordinary income
	b.	$30,000 long-term capital gain
	c.	$20,000 long-term capital gain and $10,000 ordinary income
	d.	$10,000 long-term capital gain and $20,000 ordinary income