in april 2023, jones inc. replaces its 50 year old furnace at the state red factory. rather than throw out the malfunctioning machine, jones inc. sells the old furnace to the poor farm orphanage for $175. jones inc. recognizes a $175 gain on the fully depreciated furnace. state red utilizes the so-called transactional theory and state pink utilizes the so called functional theory when distinguishing between business income and non-business income as that term is defined by section 1 of UDIPTA. Which of the following statements are true: a. the gain will be at least partially or fully taxable in state red but not taxable in state pink. b. the gain will be at least partially or fully taxable in state pink but not taxable in state red. c. the gain will be at least partially or fully taxable in states pink and state red. d. the gain will not be taxable in either states pink or state red