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	Original Cost		Accumulated Depreciation		Gain/Loss
Computers	$	6,000	$	2,000	$	(3,000)
Machinery		10,000		4,000		(2,000)
Furniture		20,000		12,000		7,000
Building		100,000		10,000		(1,000)

Assuming Buckleys marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios:

1. a1. What is the amount and character of Buckleys gains or losses for the current year?
2. a2. Calculate Buckley's tax liability or tax savings for the year.