19 0.64 points Required information [The following information applies to the questions displayed below.] Buckley, an individual, began business two years ago and has never sold a 1231 asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets: eBook Hint Print References Asset Computers Machinery Furniture Original Cost $ 6,000 10,000 Accumulated Depreciation $ 2,000 4,000 Gain/Loss $ (3,000) (2,000) 20,000 100,000 12,000 10,000 Building 7,000 (1,000) Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: Required: a1. What is the amount and character of Buckley's gains or losses for the current year? a2. Calculate Buckley's tax liability or tax savings for the year. Complete this question by entering your answers in the tabs below. Required a1 Required a2 What is the amount and character of Buckley's gains or losses for the current year? Description Amount 1231 loss $ (3,000) $1245 gain $ 2,240