Several years ago, Nipher paid $75,000 to purchase equipment to use in its business. This year, it sold the equipment for $76,500. Accumulated MACRS depreciation through date of sale was $13,000. Determine the amount and character of Nipher's gain recognized. $13,000 ordinary gain and $1,500 capital gain O $1,500 ordinary gain $14,500 Section 1231 gain 0 $14,500 ordinary gain and $1,500 Section 1231 loss