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 long-term capital gain of $30,000
D. Ordinary income of $60,000 and Sec. 1231 gain of $30,000

B. Sec. 1231 gain of $90,000

Explanation:

Equipment costs           = $270,000

Less: Depreciation        = ($30,000)

Net Book Value             = $210,000

The equipment sells for $300,000. The selling amount must be compare with Net Book Value to record the gain or loss on sale of an assets. In this case, the equipment sells for $300,000 and NBV is $210,000 which equal to the gain of $90,000.

the answer choices are:

provides online banking

provides automatic payment services

provides home loans by using saving accounts

accept tax return refunds

hopefully someone can answer the question now lol

the specific actions take by the fed. what the fed was attempting to do by taking these actions. the result of the actions taken by the fed