(Answered) On december 31 2015 henry a sole proprietor sold for 70000

Accounting

On December 31, 2015, Henry, a sole proprietor, sold for $70,000 a machine that was used in his business. The machine had been purchased in a few years ago for $50,000, and when it was sold, it had accumulated depreciation of $15,000 and an adjusted basis of $35,000. For the year 2015, how should this gain be treated?

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