5. Jimmy Corporation sold machinery for $180,000 on December 31, 2020. The machinery had been purchased on January 2, 2015 for $160,000, and had a remaining basis after all depreciation deductions of $81,000 at the date of the sale. Describe the character and amount of income to be reported from this sale on Jimmy's 2020 federal income tax return? 6. Kevin purchased a factory building sitting on 3 acres of land on April 15, 2013, for $4,500,000. Land in the vicinity of the factory building was selling for $100,000 per acre in 2013. Kevin elected to use MACRS depreciation (same MACRS rate table as applicable in 2020), and made no election to use $179 or additional first year depreciation in 2013. She sells the factory building on July 2, 2020. Determine Kevin's depreciation deduction on this building for 2020