Amber's business goes bankrupt in 2023. To close her business, Amber start by selling off her business assets. Below are the asset disposition transactions: Assets Purchased Cost Sold date Sold price Date Delivery car 2/1/2022 35k 12/31/2023 25k Furniture 4/15/2021 Equipment 6/1/2021 50k 12/31/2023 20k Land 1/1/2021 120k 12/31/2023 150k 200k 12/31/2023 280k Assume there is no Section 179 and Bonus depreciation. Use MACRS only for depreciation calculation. Show detailed calculation and explanation a) Calculate total accumulated depreciation of each asset until the sold date (12/31/2023). b) Calculate the adjusted basis for each asset c) Calculate the gain/loss for each asset d) Point out the exact character of gain/loss for each asset gain/loss (ex: Ordinary, pure 1231, 1245, 1250, etc.) e) Calculate the Net 1231 Gain/Loss Hint: Be aware of 1245 Depreciation recapture and 1231 lookback rules