Tobias sells equipment for $16,000 which had been purchased for $90,000 and on which $60,000 of depreciation had been taken. He had used the equipment in his business for several years. Tobias has: a. A $14,000 1245 loss. b. A $14,000 1231 loss. c. A $14,000 1250 loss. d. A $16,000 1231 gain. e. None of the above