Lena is a sole proprietor. In April of this year, she sold equipment purchased four years ago for $61,600 with an adjusted basis of $36,960 for $40,656. Later in the year, Lena sold another piece of equipment purchased two years ago with an adjusted basis of $18,480 for $12,012. What are the tax consequences of these tax transactions? Lena has an ordinary gain of $ from the sale of the first equipment. Lena has a $1231 loss from the sale of the second equipment