tax problem

During the year, Santiago National Bank purchased the following assets: Date March 5 April 7 August 22 December 11 Asset Computers Office building Office furniture Machinery Cost $50,000 $250,000 $20,000 $100,000 In computing depreciation of these assets, which of the following conventions will be used? a. Half-year, mid-month Y b. Mid-quarter, mid-month c. Half-year, mid-quarter, mid-month d. Mid-quarter Which of the following results in an ordinary gain or loss? a. Sale of a machine at a gain. b. Sale of stock held for investment. c. Sale of a $1231 asset. d. Sale of inventory. e. None of the choices are correct