Melissa acquires and places in service business equipment (a 5-year class asset) on Arpil 1, 2021, at a cost of $1,130,000. It is the only asset she places in service 2021. Under $ 179, she elects to deduct $1,050,000 of the asset's cost in 2021 and elects not to take additional first-year depreciation. She sells the asset in 2022 for $53,000. Determine the tax consequences in 2022. This sale result in a gain or loss? Determine the amount of gain or loss (enter the absolute number). (Round final answer to the nearest whole number) Mia puts into service a new 7-year class asset on May 9, 2021, for $80,000. She elects the straight-line method of cost recovery. Determine her cost recovery deduction for 2022. (Round final answer to the nearest whole number.) Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the month, he travels to New York to discuss acquiring a bakery. Stanford does not acquire the restaurant but does purchase the bakery on November 1, 2021. Stanford Incurred the following expenses: Total investigation costs related to the restaurant $39,750 53,300 Total investigation costs related to the bakery If required, round any division to two decimal places and use in subsequent computation. Round your final answer to the nearest dollar. What is the maximum amount Stanford can deduct in 2021 for investigation expenses