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On January 1, Year 8, Crane Corp. placed into service 5-year MACRS equipment with an initial tax basis of $10000. On December 31 , Year

image text in transcribed On January 1, Year 8, Crane Corp. placed into service 5-year MACRS equipment with an initial tax basis of $10000. On December 31 , Year 10 , Crane sold the property for $7600, after having taken $5800 in MACRS depreciation deductions. What amount of the gain should Crane recapture as ordinary income under the Section 1245 recapture rules? $5800$3400$0$2400

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