Buckley, an individual, began business two years ago and has never sold a 1231 asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets; Asset Computers Machinery Furniture Building Original Cost Accumulated Depreciation $ 6,000 10,000 20,000 $2,000 Gain/Loss $ (3,000) 4,000 (2,000) 100,000 12,000 10,000 7,000 (1,000) Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: Required: c1. Assume that the amount realized increased so that the building was sold at a $15,000 gain instead. What is the amount and character of Buckley's gains or losses for the current year? c2. Calculate Buckley's tax liability or tax savings for the year. Complete this question by entering your answers in the tabs below. Required c1 Required c2 Show less A Assume that the amount realized increased so that the building was sold at a $15,000 gain instead. What is the amount and character of Buckley's gains or losses for the current year? Description $1245 gain $1231 gain Amount Buckley, an individual, began business two years ago and has never sold a 1231 asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets Asset Computers Machinery Furniture Building Original Cost $ 6,000 10,000 20,000 Accumulated Depreciation $ 2,000 4,000 Gain/Loss $ (3,000) (2,000) 100,000 12,000 10,000 7,000 (1,000) Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: Required: c1. Assume that the amount realized increased so that the building was sold at a $15,000 gain instead. What is the amount and character of Buckley's gains or losses for the current year? c2. Calculate Buckley's tax liability or tax savings for the year. Complete this question by entering your answers in the tabs below. Required c1 Requiredc2 Calculate Buckley's tax liability or tax savings for the year. Tax liability Show less A