Helen purchased Tanger Corporation five years ago for $776,000. As part of the purchase, Helen acquired two patents which had a value of $50,000. In the current year, she sells both patents for $62,500. Total amortization claimed on the patents through the date of sale was $16,200. What are the tax consequences of this sale? $ LA

Helen purchased Tanger Corporation five years ago for $776,000. As part of the purchase, Helen acquired two patents which had a value of $50,000. In the current year, she sells both patents for $62,500. Total amortization claimed on the patents through the date of sale was $16,200. What are the tax consequences of this sale