Question: During the current year, Perla recognizes a $25,000 Sec. 1231 gain on sale of land and a $19,000 Sec. 1231 loss on the sale of

During the current year, Perla recognizes a $25,000 Sec. 1231 gain on sale of land and a $19,000 Sec. 1231 loss on the sale of land. Prior to this, Perla's only Sec. 1231 item was a $15,000 loss six years ago. Perla must report a
A) $6,000 net LTCG.
B) $6,000 ordinary income.
C) $9,000 ordinary loss.
D) $15,000 ordinary income and $6,000 net LTCG.

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