39. Identity each of White Corporation's following assets as an ordinary, capital, or $1231 asset. a) Two years ago, White used its excess cash to purchase a piece of land as an investment. b) Two years ago, White purchased land and a warehouse. It uses these assets in its business. c) Manufacturing machinery White purchased earlier this year. d) Inventory White purchased 13 months ago that is ready to be shipped to a customer. c) Office equipment White has used in its business for the past three years. D 1,000 shares of stock in Black Corporation that White purchased two years ago because it was a good investment. 8) Account receivable from a customer with terms 2/10, net 30. h) Machinery White held for three years and then sold at a loss of $10,000