Sean owns a personal fitness facility that specializes in training competitive athletes. Several years ago, Sean purchased a new weight machine for $2,000 and has since taken $600 in depreciation deductions. Sean is now ready to replace the weight machine with a more current model, but he is not sure what the tax consequences of selling the old weight machine will be. Which of the following statements is true regarding the tax consequences of selling the old weight machine? If Sean sells the old weight machine for $1,400, he will have a $600 capital loss. If Sean sells the old weight machine for $1,200, he will have a $600 ordinary gain. If Sean sells the old weight machine for $1,600, he will have an ordinary gain of $200. If Sean sells the old weight machine for $2,200, he will have a $800 capital gain