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The results of Eagle Companys first 5 years of operations are presented below: Year Results of Operations for the Year 1 Net Sec. 1231 losses

The results of Eagle Companys first 5 years of operations are presented below: Year Results of Operations for the Year 1 Net Sec. 1231 losses of $10,000 2 Net Sec. 1231 losses of $7,000 3 Net Sec. 1231 gains of $9,000 4 Net Sec. 1231 losses of $12,000 5 Net Sec. 1231 gains of $35,000 Eagles Year 5 Sec. 1231 gain can be characterized as:

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