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Question 10 (1 point) Hank converted his personal truck to business use 2 years ago. He had bought the truck for $30,000 but it was worth $18,000 at the time of conversion. After taking $5,000 of depreciation on the truck, he sold it for $10,000. What is Hank's gain or loss on this sale? MAKE SURE TO READ BOTH SECTIONS OF THE CHAPTER 13(Pt.1) HANDOUT THOROUGHLY (THE SECTION ON CONVERSIONS OF PERSONAL USE PROPERTY AND THE GIFT BASIS SECTION). a $10,000 loss a $2,000 gain a $3,000 loss no gain or loss Question 11 (1 point) When stock is bought in different lots at different times and for different prices, a