Glen, whose tax rate is 33%, sells each of the following assets for $200,000. Each case is an independent case.

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Sec. 1231 Ordinary Gain (Loss) Income Тахed Тахed Тахed Тахed at 33% at 20% at 25% at 15% Building purchased in 2001 for $220,000 with adjusted basis of $165,000 Equipment purchased in 2013 for $300,000 with adjusted basis of $144,000 Land purchased in 1994 for $30,000 to use as a building site Building purchased in 2000 for $150,000 with adjusted basis of $112,000 Equipment purchased in 2014 for $180,000 with adjusted basis of $140,000