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Twenty-five multiple choice exercises/problems appear below. You must answer all of them. For each problem...

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Accounting

Twenty-five multiple choice exercises/problems appear below. You must answer all of them. For each problem you answer, insert the letter which indicates the correct answer in the appropriate space on the separate answer sheet. All final answers have been rounded to the nearest $10.
Charles Collins sells a machine that he has been using in his sole proprietorship for $20,000. Charles paid $42,000 for the machine 3 years ago and has claimed total depreciation deductions of $25,000. How much ordinary income. If any, will Charles recognize from the sale?
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