14. Taxpayer sells an asset for $210,000. Assume that the taxpayer has owned the asset for several years, that the original cost was $150,000, and that Taxpayer has claimed depreciation deductions of $90,000. Assume also that Taxpayer incorrectly computed depreciation over the years and should have claimed depreciation deductions of $110,000. Assuming that Taxpayer will not file amended returns to correct any prior depreciation errors, how should the Taxpayer report the sale? A Gain of $150,000 B Gain of $150,000 and itemized deduction of $40,000 Gain of $60,000 D Gain of $170,000 E None of the above Do not assume that a taxpayer makes an IRC 179 election or uses bonus depreciation unless a problem so states. For each question you answer, insert in the appropriate space on the separate answer sheet the letter which indicates the correct response. Please note than all final answers have been rounded to the nearest $10