12. (20 points) Give the tax treatment for Anthony who is an individual in the 37 percent marginal tax bracket who sells the following assets that were purchased in 2008 and used in his business until they are sold in 2019. Straight-line depreciation was taken on the building and Anthony does not have any other gains and losses in 2019 or unrecaptured 1231 losses from the past five years. Asset Cost Adjusted Basis Selling Price Land $420,000 $420,000 $600,000 Equipment 720,000 540,000 $680,000 Machinery 750,000 600,000 $900,000 Factory Building 660,000 560,000 $840,000