1. Texas Corporation elects S status effective beginning year 2019.On January 1, 2019, Texas assets were appraised as follows:

	Adjusted Basis	Fair Market Value
Cash	16,010	16,010
Accounts Receivable	0	55,400
Inventory	70,000	90,000
Investment in Land	110,000	195,000
Building	220,000	275,000
Goodwill	0	93,000

In each of the following independent situations, calculate any built-in gains tax. C corporation taxable income would have been $100,000.

1. Crew collects $40,000 of the accounts receivable and sells 80% of the inventory for $99,000.
2. Crew sells the land held for investment for $203,000.
3. The building is sold for $270,000.