Problem 14-79 (LO. 8, 10)

On January 1, 2006, Stephanie Bridges acquired depreciable real property for $50,000. She used straight-line depreciation to compute the asset's cost recovery. The asset was sold for $96,000 on January 3, 2015, when its adjusted basis was $38,000.

a. Assuming the property is residential real property, there is a 1231 gain of $58000, of which $_______ is treated as unrecaptured 1250 gain.