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Ashburn reported a $104,950 net 1231 gain in year 6. Assuming Ashburn reported $54,000 of nonrecaptured 1231 losses during years 1-5, what amount of Ashburn's

Ashburn reported a $104,950 net 1231 gain in year 6. Assuming Ashburn reported $54,000 of nonrecaptured 1231 losses during years 1-5, what amount of Ashburn's net 1231 gain for year 6, if any, is treated as ordinary income?

Multiple Choice

a. $0.

b. $50,950.

c. $54,000.

d. $104,950.

e. None of the choices are correct.

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