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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: Assume

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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: 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

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