Butte sold a machine to a machine dealer for $50,000. Butte bought the machine for $55,000 several year ago and has a claimed $12,5000 of depreciation expense on the machine. What is the amount and character of Butte's gain or loss?
a. 7,500 section 1231 loss
b. $7,500 section 1231 gain
c. $7,500 ordinary gain
d. 7,500 capital gain
e. none of these
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