12. Lisa exchanges machinery (ndjusted basis 544,000) for an office building with a FMV of $98,000. The office building is subject to a $45.000 mortgage which Lisa umes. Lisa must recognize again of SO b. $1.000 c. $9.000 d. $54.000 e. None of the above elects Sec. 179 13. In April 2019, Linux Corporation (a calendar year business) purchased $1.500.000 of new office furniture. Le Lenux's net income was $3,750,000. What is the amount of Sec. 179 expense Lemax can deduct? a $1.500.000 b. $1,020,000 c. $2.550.000 d. $3,750,000 None of the above 14. Section 1245 recapture applies to all the following except a depreciable personal property b.assets sold or exchanged at a loss c. total depreciation or amortization allowed or allowable d. amotable intangible personal property c. None of the above 15. Era sole proprietor purchased a building in 2000 that he uses in his business Eries the wealthline method for the building Eric's cost for the building is $420,000 and depreciation was $200,000. If the building is sold for $40,000, the tax results are 5260.See 1231 b. 5260,000 unrecaptured See. 1250 c. $200,000 unrecaptured See. 1250 gain, 560,000 See 1231 an d. 5200.000 See 1245 ordinary income 560.000 See 1231 main e None of the above 16. Ames corporation solda warehouse bought in 1990 for 5 000 during the current year. The buildi 0 00 and the corporation had claimed 320,000 of straight line depreciation. How much should this Corporation report as otion 1331 S2000 S16000 None of the above