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Question 2 2.5 pts Brook Corporation sells for $70,000 cash some equipment it had used in its business for several years. Brook purchased the equipment
Question 2 2.5 pts Brook Corporation sells for $70,000 cash some equipment it had used in its business for several years. Brook purchased the equipment for $130,000 and has deducted $49.400 of depreciation for it since then. What is the amount and character of Brook's realized gain and/or loss? $49.400 ordinary income $10,600 ordinary income $49.400 ordinary income and $60,000 Sec. 1231 loss $10,600 Sec 1231 loss
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