I:13-36 Capital Loss Versus Sec. 1231 Loss. Vicki has an AGI of $70,000 without considering the sale of a nondepreciable asset for $23,000. The asset was acquired six years ago and has an adjusted basis of $35,000. She has no other sales or exchanges. Determine her AGI for the following independent situations when the asset is:

a. A capital asset.

b. Sec. 1231 property.