Locke sold machinery used in his business for 50000 he, Ask an Expert

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Locke sold machinery used in his business for $50,000. He purchased the equipment three years ago for $55,000 and deducted $22,800 MACRS depreciation through date of sale. Compute and characterize Locke's gain on sale.

A) $17,800 Section 1231 gain

B) $22,800 ordinary gain and $5,000 Section 1231 loss

C) $17,800 ordinary gain

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91608113

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