question 14

Question 14 (2 poll Bozeman sold equipment that it uses in its business for $80,000. Bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. What is the amount and character of Bozeman's gain or loss? $25,000 $1231 gain $20,000 ordinary gain, and $5,000 $1231 gain $5,000 ordinary gain, and $20,000 $1231 gain $25,000 capital gain None of these