15 Patel Industries, a sole proprietorship, sold the following assets in 2021: 6 points Asset Warehouse Truck Cost $ 145,000 Acquired 10/10/2014 Depreciation Sale Price $ 24,940 $ 167,250 Sale Date 03/15/2021 Computer 22,000 01/15/2020 24,000 07/31/2020 7,920 6,360 20,550 01/14/2021 14,450 08/31/2021 eBook References Required: a. The following questions relate to the sale of the warehouse: 1. What is the adjusted basis of the warehouse? 2. What is the realized gain on the warehouse? 3. What amount of the gain is taxed according to 1250 rules? 4. What amount is considered a 1231 gain before netting? b. The following questions relate to the sale of the truck: 1. What is the adjusted basis of the truck? 2. What is the realized gain on the truck? 3. What amount of the gain is taxed according to 1245 rules? 4. What amount of the gain is taxed as ordinary income? c. The following questions relate to the sale of the computer: 1. What is the adjusted basis of the computer? 2. What is the realized gain or loss on the sale? 3. Which IRC section code applies to this asset? Complete this question by entering your answers in the tabs below. Required a Required b Required c 1. What is the adjusted basis of the warehouse? 2. What is the realized gain on the warehouse? 3. What amount of the gain is taxed according to 1250 rules? 4. What amount is considered a 1231 gain before netting? 1. Adjusted basis 2. Realized gain 3. 1250 Realized gain 4. 1231 Realized gain Amounts Required a Required b > Show less Complete this question by entering your answers in the tabs below. Required a Required b Required c 1. What is the adjusted basis of the truck? 2. What is the realized gain on the truck? 3. What amount of the gain is taxed according to 1245 rules? 4. What amount of the gain is taxed as ordinary income? 1. Adjusted basis 2. Realized gain 3. 1245 Realized gain 4. Realized gain taxed as ordinary income Amounts Required a Required c > Show less Complete this question by entering your answers in the tabs below. Required a Required b Required c 1. What is the adjusted basis of the computer? 2. What is the realized gain or loss on the sale? 3. Which IRC section code applies to this asset? 1. Adjusted basis 2. 3. IRC section code < Required b Required c