Copper Corporation Sold Machinery for $47,000 on December 31, 2017

Multiple Choice

Copper Corporation sold machinery for $47,000 on December 31, 2017. The machinery had been purchased on January 2, 2014, for $60,000 and had an adjusted basis of $41,000 at the date of the sale. For 2017, what should Copper Corporation report?

A) Ordinary income of $6,000.
B) A § 1231 gain of $3,000 and $3,000 of ordinary income.
C) A § 1231 gain of $6,000.
D) A § 1231 gain of $6,000 and $3,000 of ordinary income.
E) None of the above.