Elizabeth owns equipment that cost $500,000 and has an adjusted basis of $230,000. If the straight-line method of depreciation had been used, the adjusted basis would be $300,000. a. What is the maximum selling price that she could sell the equipment for without having to recognize Sec. 1245 ordinary income? b. If she sold the equipment and had to recognize $61,000 of Sec. 1245 ordinary income, what was the selling price?