Required information Determine the amount of any depreciation recapture (DR), capital gain (CG), or capital loss (CL) generated by each event described below. Use the result to determine the income tax effect, if Te=29%. Earthmoving equipment purchased for $180,000 was depreciated using Modified Accelerated Cost Recovery System (MACRS) over o 5-year recovery period. It was sold at the end of the fifth year of ownership for $16,000. The amount of depreciation recapture (DR) generated is determined to be $ The amount of taxes generoted is determined to be $