Leps Company sold used equipment on December 31, 2019 for $500,000 cash. The equipment was purchased on January 1, 2016 at a cost of $600,000. It has been depreciated using the straight line method over an estimated useful life of 8 years with an estimated residual value of $40,000. Provide: a. The asset's net book value at the time of the sale- b. The capital gain or loss (specify which) c. Would a capital gain or loss be categorized as operating or non-operating on the income statement