On 4/15/20, Gabby sold business equipment for $40,000. The equipment was purchased 2 years ago a cost of $35,000. Accumulated tax depreciation on this equipment totaled $ 6,000 the date of the sale. On 5/2/20, Gabby used the entire sales proceeds plus an additional $ 10,000 and purchased replacement equipment for $50,000. Which of the following statements are true? Gabby's banis in the new equipment will be $39,000. Gabby will recognize a gain of $11,000 in 2020, Gabby will not recognize a gain in 2020 None of the choices shown are correct Two of the choices shown are correct