Question Julian sold a piece of equipment in 2020 for $63,500. This equipment was purchased in 2015. The equipment originally cost $90,000 and $35,000 of depreciation deductions have been taken. This is the only transaction to which Section 1231 applies for the year. What is the amount and character of the gain on this sale? O $4,250 ordinary and $4,250 capital O $8,500 ordinary and $0 capital O $6,800 ordinary and $1,700 capital O $1,700 ordinary and $6,800 capital O $0 ordinary and $8.500 capital