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please answer both questions:) i will thumbs up! Swiftee Corp purchased a large machine for $350,000 in 2017. It claimed $100,000 of tax depreciation on

image text in transcribedplease answer both questions:) i will thumbs up!
Swiftee Corp purchased a large machine for $350,000 in 2017. It claimed $100,000 of tax depreciation on the machine before it sold the machine in 2019 for $325,000. What are the tax consequences from the sale for Swiftee Corp? $25,000 capital loss 0 $100,000 Sec 1245 recapture gain $225,000 total gain: $100,000 1245 recapture and $125,000 capital gain 0 $75,000 Sec 1245 recapture gain Question 42 2 pts Multiple Choice - 25: Ferrington Corp constructs bridges. It has won a bid to construct a bridge over Utah Lake. This will be a 3 year project. The revenue from the project will total $75 million and the estimated expenses of the project are $53 million. In 2019, the first year of construction, expenses incurred are $22 million. If Ferrington uses the percentage of completion method, what is the taxable income it will report in 2019 from the project? O $11.432.564 O $6,453,333 O $9,131,075 O $22,000,000

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