Bozeman sold equipment that it uses in its business for $80,000. bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. what is the amount and character of bozeman's gain or loss? a. $25,000 section 1231 gain. b. $20,000 ordinary gain, and $5,000 section 1231 gain. c. $5,000 ordinary gain, and $20,000 section 1231 gain. d. $25,000 capital gain. e. none of the above.