Joaquin purchased a $$300,000$ earthmover for a business. The earthmover was sold for $$245,000$ after taking $$210,000$ of depreciation. What is the nature and amount of the gain or loss on the sale?

Multiple Choice

$$55,000$ Section $1245$ ordinary income and $$100,000$ Section $1231$ gain.

$$90,000$ Section $1245$ ordinary income and $$65,000$ Section $1231$ gain.

$$155,000$ Section $1231$ gain.

Incorrect

$$155,000$ Section $1245$ ordinary income.