Lester sold a warehouse and a forklift. The warehouse sold for $230,000. It had an original cost of $150,000 and accumulated depreciation of $40,000. The forklift sold for $4,000. It had an original cost of $15,000 and accumulated depreciation of $14,000. Lester has $2,000 in unrecaptured Sec 1231 losses from last year. Assuming no other asset sales and that Lester's taxable income is less than $400,000, Lester will be taxed on $ at marginal (ordinary) rate, $ at 25% and $ at 15%?

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.