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Business, 02.04.2020 15:25 jwdblue

Firm OCS sold business equipment with a $20,000 initial cost basis and $7,315 accumulated tax depreciation. In each of the following cases, compute OCS’s recaptured ordinary income and Section 1231 gain or loss on sale. a. Amount realized was $10,000. b. Amount realized was $13,000. c. Amount realized was $17,500. d. Amount realized was $22,500.

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