this year Izard company sold equipment purchased several years ago at a cost of $48,500. accumulated depreciation through date of sale was $18,900. which of the following statements is false?

if the sale price was $25,000, Izard recognized $4,600 Section 1231 loss

if the sale price was $42,500, Izard recognized $12,900 Section 1231 gain

if the sale price was $50,000, Izard recognized $18,900 ordinary gain and $1,500 Section 1231 gain

none of these are correct