2. Nora sold a piece of equipment to Adelyn on January 1, 2020. Adelyn agreed to pay $130,000 for the equipment and assumed a $7,000 liability on the equipment. Nora incurred selling expenses of $2,000 on the sale.

Nora bought the equipment in 2018 for $180,000. Depreciation of $69,804 has been taken on the equipment. Nora performed routine maintenance on the equipment over the years of $9,000 and added a hydraulic lift to the equipment for $14,000.

Compute the amount realized.

Compute Noras adjusted basis in the equipment