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Charles is selling the condo he bought 4 years ago and has rented it out to fellow Huskies. He purchased the condo for $250,000for cashno

Charles is selling the condo he bought 4 years ago and has rented it out to fellow Huskies. He purchased the condo for $250,000for cashno debt. He is selling it for $400,000 (thank you hot Seattle market!) and will pay 7% in commissions and closing costs. Since he purchased it, he has taken an annual depreciation deduction of $8,300. Assuming a 15% capital gains tax rate and 25% depreciation recapture rate, what are:

a) Taxable gain on sale

b) Accumulated depreciation at the time of sale

c) Depreciation recapture tax

d) Capital gain tax

e) What was his net after cash proceeds?

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