QUESTION 11 Taxpayer sells a building, land, and equipment for $2 million. The building had basis of $500,000 and depreciation deductions of $50,000. The land had basis of $250,000. The equipment had basis of $300,000 and depreciation deductions of $250,000. What is the total amount of capital gain recognized on this transaction? O $728,571 O $521,429 $1,000,000 O $271,429 QUESTION 12 h Which of the following set of curcumstances is subject to 1245 recapture? Gain of $20,000 on a piece of equipment with basis of $30,000 and depreciation deductions of $15,000 Gain of $500,000 on land with basis of $450,000 Gain of $25,000 on a building and land with cumulative depreciation deductions of $45.000 and basis of $2 million Loss of $35,000 on a piece of furniture with basis of $40,000 and depreciation of $10,000