173 Describe the tax treatment for a noncorporate taxpayer in the 35 % marginal tax bracket who sells each of the first two assets for $500.000 and each of the second two assets for 5 750 000 Each asset was purchased in 1995 and is used in a trade or business . There are no other gains and losses and no nonrecaptured Section 1231 losses Original Basis Adjusted Basis Land 5350.000 $350 000 Equipment $600 000 5420.000 Equipment $600 090 $500.000 Building $550.000 5460 000