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Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of

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Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) Required: e1. Now assume that Hart is a C corporation. What is the amount and character of its recognized gain or loss if the asset is a nonresidential building sold for $450,000? e2. Due to this sale, what tax effect does Hart have for the year? (assume a 21 percent tax rate) Complete this question by entering your answers in the tabs below. Regel Rege2 Now assume that Hart is a C corporation. What is the amount and character of its recognized gain or loss if the asset is a nonresidential building sold for $450,000? Amount Description Total Gain (Loss) Recognized $1231 gairviss Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) Required: e1. Now assume that Hart is a C corporation. What is the amount and character of its recognized gain or loss if the asset is a nonresidential building sold for $450,000? e2. Due to this sale, what tax effect does Hart have for the year? (assume a 21 percent tax rate) Complete this question by entering your answers in the tabs below. Req el Req e2 Due to this sale, what tax effect does Hart have for the year? (assume a 21 percent tax rate)

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