QUESTION 19 Green Corporation sold machinery for $50,000 on December 31, 2020. The machinery had been purchased on January 2, 2017, for $60.000 and had an adjusted basis of $40,000 at the date of the sale. For 2020, what should Green report? a. Ordinary income of $6,000. b. A 1231 gain of $10,000 Ordinary income of $10,000 d. A $1231 gain of $7,000 and $3,000 of ordinary income. e None of the above