A nanotube forming asset was purchased 3 years ago for $240,000. It was just sold for $285,000. The asset was depreciated by the MACRS method with n = 5 years and has a current book value of $69,120. Determine the amount of

(a) CG and DR, and

(b) Prepare a spreadsheet showing the taxes each year for T_e = 28%. Assume the asset’s GI = $100,500 and OE = $50,000 for each of the 3 years.