1.Identify the character of each of the following assets based on the information given. You can use each character classification more than once. (2 points each)

Asset description

Character

A company acquired land in 2012 and had its office built on the land. The office and land were sold in 2018. (The asset I'm asking about here is the land.)

A family acquired land in 2014 by the beach and had a vacation home built on the land. The vacation home and land were sold in 2016. (The asset I'm asking about here is the land.)

A company purchased a computer on February 14, 2017 for one employee who uses it solely for business purposes but sold it on November 15, 2017 when the employee quit.

Municipal bond purchased on December 21, 2016 and sold on October 26, 2017.

Five shares of stock purchased on January 15, 2018 and sold on June 30, 2018.

a.Ordinary asset

b.Sec. 1231 asset

c.Short-term capital asset

d.Long-term capital asset