Determine whether the sale of the following items would be classified as a) income from capital for tax purposes, b) business income for tax purposes, or c) neither.
Definitions:
Serrations
The toothlike projections on the edge of a tool such as a knife, saw, or scissors, designed to improve cutting efficiency.
Hemostats
Surgical tools used to control bleeding by clamping blood vessels.
Forceps
A surgical instrument similar to tongs, used for grabbing, manipulating, or removing objects during surgery.
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