$31.$ Green Light Trading Co$.$ purchased a transmission belt equipment at a cost of $$5220000$ in $20$X$3.$ Green Light took the following depreciation for tax deduction fr

om $20$X$3$ to $20$X$6.$ What is the $$adjusted basis$$ of the equipment in the beginning of $20$X$7?$

$20$X$3$: $$745938$

$20$X$4$: $$1278378$

$20$X$5$: $$912978$

$20$X$6$: $$651978$

$32.$ LaSalle Inc. purchased a transmission belt equipment at a cost of $$5180000$ in $20$X$3.$ LaSalle Inc. took the following depreciation for tax deduction from $20$X$3$ to $20$X$6.$

$20$X$3$: $$740222$

$20$X$4$: $$1268582$

$20$X$5$: $$905982$

$20$X$6$: $$646982$

In $20$X$7,$ LaSalle Inc. sold the equipment for $$1845000,$ after taking another depreciation deduction of $$231546$ in $20$X$7.$ This was the only equipment sales transaction in the past five years. What is the taxable gain$/$loss from disposal of the equipment this year and is the type of gain$/$loss amount ordinary or capital?

a$.458314$ ordinary income

b$.226768$ ordinary income

c$.458314$ capital gain

$33.$ Green Light Trading Co$.$ purchased a transmission belt equipment at a cost of $$6360000$ in $20$X$3.$ Green Light took the following depreciation for tax deduction from $20$X$3$ to $20$X$6.$

$20$X$3$: $$908844$

$20$X$4$: $$1557564$

$20$X$5$: $$1112364$

$20$X$6$: $$794364$

In $20$X$7,$ Green Light sold the equipment for $$830000,$ after taking another depreciation deduction of $$284292$ in $20$X$7.$ This was the only equipment sales transaction in the past five years. What is the taxable gain$/$loss from disposal of the equipment and is the type of gain$/$loss amount ordinary or capital?

a$.-872572$ capital loss

b$.-1156864$ ordinary loss

c$.-872572$ ordinary loss

d$.-1156864$ capital loss

$36.$ LaSalle Inc. had the following taxable income and deduction for the tax year $20$X$1$:

sales inventory $=1604500$

loss from sales of invested stock $=(78500)$

deductible cost of goods sold $=(816400)$

deductible expenses $=(586400)$

taxable income$=?$

LaSalle Inc.$\text{'}$s federal income tax rate is flat $21\%.$ What is LaSalle Inc.$$s federal income tax liability for the tax year $20$X$1?$