to answer Three years 17. Section 1231 and Capital Gains and Losses. (Obj. 3) Use the following information Parts a. through c. Period Property Was Held Nonbusiness bad debt Sale of equipment used in business Two months Sale of equipment used in business Sale of corporate stock Sale of land used in business Amount of Gain or Loss ($2,600) (1,500) (3,000) 2,500 5,000 Two years Five years Four years a. What, if any, is the amount of net short-term capital loss? b. What, if any, is the amount of net Section 1231 gain or (loss)? c. What, if any, is the ordinary loss deduction