BBB Company, which manufactures industrial plastics, owns the following assets. Characterize each asset as either a capital, ordinary, or Section 1231 asset.
a. A computer system used in BBB’s main office.
b. A 50 percent interest in a business partnership organized to conduct a mining operation in Utah.
c. Heavy equipment used to mold BBB’s best-selling plastic item.
d. BBB’s customer list developed over 12 years of business.
e. BBB’s inventory of raw materials used in the manufacturing process.
f. An oil painting of BBB’s founder and first president that hangs in the boardroom.
g. A patent developed by BBB’s research and development department.
h . BBB’s company airplane.