Problem 8-18 Section 1231 Gains and Losses, Depreciation Recapture (LO 8.7, 8.8)

William sold Section 1245 property for $25,000 in 2019. The property cost $38,500 when it was purchased 5 years ago. The depreciation claimed on the property was $19,200.

If an amount is zero, enter "0".

a. Calculate the adjusted basis of the property. $

b. Calculate the recomputed basis of the property. $

c. Calculate the amount of ordinary income under Section 1245. $

d. Calculate the Section 1231 gain. $