Question 23 ABC Corp sold the following assets this year. The company owned both machines for several years and used them in its business. Asset Cost Machine 1 $30,000 $40,000 Accum. Depr. Gain/(Loss) $3,000 $8,000 $10,000 ($2,000) Machine 2 The company has not sold business assets in the past and has no other sales this year. What is the amount and character of ABC Corp's recognized income or loss with respect to these transactions? $3,000 Section 1231 gain, $3,000 ordinary income $6,000 ordinary income $5,000 Section 1231 gain, $1,000 ordinary income $6,000 Section 1231 gain $8,000 Section 1231 gain, ($2,000) ordinary loss