During the Current Year,a Corporation Sells Equipment for $300,000

Multiple Choice

During the current year,a corporation sells equipment for $300,000.The equipment cost $270,000 when purchased and placed in service two years ago and $60,000 of depreciation deductions were allowed.The results of the sale are

A) ordinary income of $90,000.
B) Sec.1231 gain of $90,000.
C) ordinary income of $60,000 and LTCG of $30,000.
D) ordinary income of $60,000 and Sec.1231 gain of $30,000.