Murrow Corporation generated $285,700 income from the performance of services for its clients. Murrow also sold several operating assets during the year. Compute Murrow's taxable income under each of the following assumptions about the tax consequences of the asset sales.

I)Murrow recognized $6,800 recaptured ordinary income, a $23,200 net Section 1231 gain, and an $11,600 net capital loss.

II)Murrow recognized a $47,300 net Section 1231 loss and a $5,075 net capital loss.

III)Murrow recognized a $61,800 net Section 1231 gain and a $4,210 net capital gain.

IV)Murrow recognized a $15,300 net Section 1231 loss and a $3,000 net capital gain.