Converted Property. In 2007, Parker converted his personal residence to rental property. The FMV of the home at the time of conversion was $85,000. Parker paid $90,000 for the home ten years ago. A) If Parker sells the property for $100,000 after taking depreciation deductions of $10,000, what is his recognized gain or loss? B) Same as in Part a. except that Parker sells the property for $70,000. C) Same as in Part a. except that Parker sells the property for $78,000.