Blue Co. sold machinery for $55,000 on December 23,2019 . The machinery had been acquired on April 1,2008 for $49,000 and its adjusted basis (net of depreciation) was $14,200. What is the amount of Section 1245 recapture? 34,80014,20040,8006,000 Question 11 Jim borrowed $45,000 to purchase a machine. He later borrowed $15,000 using the machine as collateral. Both notes are nonrecourse. Eight years later, the machine has an adjusted basis of zero and two outstanding note balances of $30,000 and $6,000. Jim sells the machine for $21,000 cash and the purchaser is responsible for the debt. What is his realized gain or loss? \begin{tabular}{l} 21,000 \\ \hline 57,000 \\ \hline 51,000 \\ \hline 0 \end{tabular}