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Firm OCS sold business equipment with a $22,000 initial cost basis and $9,115 accumulated tax depreciation. In each of the following cases, compute OCS's recaptured
Firm OCS sold business equipment with a $22,000 initial cost basis and $9,115 accumulated tax depreciation. In each of the following cases, compute OCS's recaptured ordinary Income and Section 1231 gain or loss on sale. Required: a. Amount realized was $10,400. b. Amount realized was $13,400. c. Amount realized was $17,900. d. Amount realized was $24.900 (For all requirements, losses should be Indicated with a minus sign. Leave no cell blank. Enter "O" for cells that do not have an amount.) Amount a Recaptured ordinary income of a Section 1231 gain or loss) b Recaptured ordinary income of b. Section 1231 gain or loss) c. Recaptured ordinary income of c. Section 1231 gain or loss) d. Recaptured ordinary income of d Section 1231 gain or loss)
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