This year Pranav had the gains and losses noted below on property, plant and equipment used in his business. Each asset had been held longer than one year Gain due to insurance reimbursement for fire Loss due to condemnation Gain on sale of Sec. 1231 property A review of Pranav's reporting of Sec. 1231 transactions for the prior five years indicates a net Sec. 1231 loss of $14,000 three years ago and a net Sec. 1231 gain of $8,000 last year (before the five -year lookback). Pranav will recognize $17,000 (12,000) 21,000 OA. OB. C. OD. Ordinary gain (loss) $O Ordinary gain (loss) $(18,000) Ordinary gain (loss) $(6,000) Ordinary gain (loss) $6,000 LTCG(L) $18,000 LTCG(L) $38,000 LTCG(L) $26,000 LTCG(L) $20,000