Shelby acquired business machinery (which qualified as 5-year MACRS property) on July 15, 2014, for $30,000. In 2014, Shelby claimed a $6,000 regular MACRS depreciation deduction and she elected not to claim Sec. 179 depreciation or bonus depreciation. Because of net operating losses in 2015 -2017, Shelby did not claim any depreciation deduction on her tax returns in those years. She sells the machine on July 1, 2017, for $10,000 Click the icon to view the MACRS half-year convention rates.) Read the requirements Requirement a. What is the adjusted basis of the machine on the sale date? Select the formula and enter the amounts to compute the adjusted basis of the machine on the sale date. Use MACRS rates to three decimal places. XXXX% Round interim annual depreciation calculations and your final answers to the nearest dollar.) - Adjusted basis at time of sale Requirements a. What is the adjusted basis of the machine on the sale date? b. How much gain or loss is recognized on the sale of the machine? Print Done