Bobbys marginal tax rate has been low for several years because his sole proprietorship has had low profits. Therefore, he has not elected Sec. 179 expensing, elected out of bonus depreciation, and elected to use the alternative depreciation system for property acquisitions. Bobby acquires, holds, or sells the following assets in 2019:

	Date Acquired	Date Sold	Original Cost Basis	Selling Price	Depreciation Method	Recovery Period (Years)
Equipment	6/1/19		$40,000		SL ADS	7
Light duty truck (Nonpersonal-use)	5/1/15	12/1/19	30,000	$ 8,000	SL ADS	5
Furniture	3/1/15		10,000		SL ADS	7
Automobile	7/1/16	12/1/19	12,000	10,000	SL ADS	5

Assume the half-year convention applies for each year. a. What is the depreciation deduction for each asset in 2019? b. What amount of gain or loss does Bobby recognize on the properties sold in 2019?