QUESTION 9 Morgan's Water World (MWW), an LLC, opened several years ago and reports the following net $1231 gains and losses since it began business. Year Year 1 Net 1231 Gains/(Losses) ($11,000) Year 2 Year 3 Year 4 Year 5 Year 6 5,000 (21,000) (4,000) 17,000 (47,000) 113,000 Year 7 (current year) What amount, if any, of the year 7 $113,000 net 1231 gain is treated as ordinary income? 2 points Save Answer