MC Qu. 12 Kimberly sold equipment that she uses... Kimberly sold equipment that she uses in her business for $50,000. Kimberly bought the equipment two years ago for $60,000 and has claimed $30,000 of...

Extracted text: MC Qu. 12 Kimberly sold equipment that she uses... Kimberly sold equipment that she uses in her business for $50,000. Kimberly bought the equipment two years ago for $60,000 and has claimed $30,000 of depreciation expense. What is the amount and character of Kimberly's gain or loss? Multiple Cholce $30.000 section 1231 gain. es $20,000 ordinary gain. $5,000 ordinary gain, and $15,000 section 1231 gain. $20,000 capital gain. None of the choices are correct.