Time left 0:53:00 Kalispell Company sold equipment that it uses in its business for $80,000. Kalispell bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. What is the amount and character of Kalispell's gain or loss? a. $25,000 capital gain b. $25,000 51231 gain. C $5,000 ordinary gain, and $20,000 $1231 gain. d. $20,000 ordinary gain, and $5,000 51231 gain