Question: How did you get the answer and why is it that one? 2. Copper Corporation sold machinery for $47,000 on Decmber 31, 2015. The machinery
How did you get the answer and why is it that one?
2. Copper Corporation sold machinery for $47,000 on Decmber 31, 2015. The machinery had been purchased on January 2,2012, for $60,000 and had an adjusted basis of $41,000 at the date of the sale. For 2015, what should Copper Corpoiabon report? a. Ordinary income of $6,000. b. A 1231 in of $3,000 and $3,000 ordinary income. c. A 1231 gain of $6,000. d. A 1231 gain of $6,000 ands $3,000 of ordinary income. e. None of the above
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