Which of the following transactions results solely in Section 1245 gain?

1. Sale of machinery held for more than one year and where the gain realized exceeds the accumulated depreciation

2. Sale of machinery held for less than one year

3. Sale of machinery held for more than one year and where the accumulated drepreciation exceeds the gain realized

4. Sale of land held for more than one year adn where the amount realized exceeds the adjusted basis

5. None of the choices are correct.