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? 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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