71. Moab Inc. manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. Part (1): Determine the gain/loss realized and recognized in the current year for each of these events. Also determine whether the gain/loss recognized will be 1 231 , capital, or ordinary. a) Moab Inc. sold a machine that it used to make computerized gadgets for $27,300 cash. It originally bought the machine for $19,200 three years ago and has taken $8,000 depreciation. Moab Inc. held stock in ABC Corp., which had a value of $12,000 at the begin- ning of the year. That same stock had a value of $15,230 at the end of the y b) c) Moab Inc. sold some of its inventory for $7,000 cash. This inventory had a basis of $5,000