Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $78,500 and it has claimed $41,400 of depreciation expense against the building. (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount.)

Required:

a. Assuming that Hauswirth receives $55,000 in cash for the warehouse, compute the amount and character of Hauswirths recognized gain or loss on the sale.

b. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $55,000, compute Hauswirths realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land.

c. Assuming that Hauswirth receives $32,000 in cash in year 0 and a $58,500 note receivable that is payable in year 1, compute the amount and character of Hauswirths gain or loss in year 0 and in year 1. (Round "Gross Profit Percentage" to 2 decimal places.)

Question: Assuming that Hauswirth receives $32,000 in cash in year 0 and a $58,500 note receivable that is payable in year 1, compute the amount and character of Hauswirths gain or loss in year 0 and in year 1. (Round "Gross Profit Percentage" to 2 decimal places.)

Description	Amount		Character
Amount Realized	$_____
Original Basis	$_____
Accumulated Depreciation	$_____
Adjusted Basis	$_____
Gain (Loss) Realized	$_____
Depreciation Recapture	$_____		Ordinary Income/Ordinary Loss/Section 1231 Gain
Gain Eligible for Installment Reporting	$_____
Gross Profit Percentage	______	%
Installment Gain (Loss) in Year 0	$_____		Ordinary Income/Ordinary Loss/Section 1231 Gain
Installment Gain (Loss) in Year 1	$_____		inary Income/Ordinary Loss/Section 1231 Gain