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Firm OCS sold business equipment with a $25,000 initial cost basis and $11,815 accumulated tax depreciation. In each of the following cases, compute OCSs recaptured
Firm OCS sold business equipment with a $25,000 initial cost basis and $11,815 accumulated tax depreciation. In each of the following cases, compute OCSs recaptured ordinary income and Section 1231 gain or loss on the sale. Required: Amount realized was $11,000. Amount realized was $14,000. Amount realized was $18,500. Amount realized was $28,500
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