This Year,Izard Company Sold Equipment Purchased Several Years Ago at a Cost

Multiple Choice

This year,Izard Company sold equipment purchased several years ago at a cost of $48,500.Accumulated depreciation through date of sale was $12,900.Which of the following statements is false?

A) If the sale price was $25,000,Izard recognized $4,600 Section 1231 loss.
B) If the sale price was $42,500,Izard recognized $12,900 Section 1231 gain.
C) If the sale price was $50,000,Izard recognized $18,900 ordinary gain and $1,500 Section 1231 gain.
D) None of the above is false.