1-Tom sells machinery used in his business for a loss of $2,000. He also sells a number of stocks held for investment for a net loss o $6,000Apart from these items, Tom has ordinary business income from his sole proprietorship of $140,000. What is Tom's Adjusted Gross Income? $132.000 $138,000 $134.000 $135.000 2-Fred and Martha, husband and wife, purchased land in joint for $200,000 in 2009. Fred died in 2020 and the land was valued at $300,000 at the time of his death. What is Martha's survivor basis in this fand after Fred's death? 3- Clawson company has ordinary business income of $250,000. In addition Clawson sold some stock it owned for investment purposes in two other businesses. One of the stock sales generated a gain of \$10,000 but the other sale generated a loss of $20,000. What is Clawson's net taxable income after considering all of these items? $250.000 $240,000 $247,000 some other amount. 4- Julia has a champion breeding horse that she sells in the current year for $40,000 after owning the horse for 3 years and deprecading \$11,000 of its cost of $16,000. Assume taxable income is $600,000 and she is single . How will she be taxed on this gain ? a-She has a gain $35.000. She will be taxed at 37\% on \$11,000 and 20% on $24,000. b-She has a gain 35.000. She will be taxed at 37% on $11,000 and 15% on $24,000 c- She has a gain 24,000 that will all be taxed at 37%. d-She has gain $35,000 that will all he taxed 37