The following information applies to the questions displayed below Buckley, an individual, began business two years ago and has never sold a 51231 asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets Accumulat iginal 2,0$(3,000) (2,000) 7,888 10,000 (1,000) Computers 6,800 Machinery 1,8 Furniture 20,880 Building 100,800 4,800 12,890 Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: (Loss amounts should be indicated by a minus sign. Input all other amounts as positive values.) Required: a1. What is the amount and character of Buckley's gains or losses for the current year? 02. Calculate Buckley's tax liability or tax savings for the year Complete this question by entering your answers in the tabs below. Req a1 Req a2 What is the amount and character of Buckley's gains or losses for the current year? scription Ar Req a2 ) The following information applies to the questions displayed below Buckley, an individual, began business two years ago and has never sold a $1231 asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets: Accumulated sset Origin Computers 6,800 Machinery 1e,080 Furniture Building 198,88 2,808 $(3,000) 4,00 (2,000) 12,888 10,000 (1,000) 7,880 28,880 Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: (Loss amounts should be indicated by a minus sign. Input all other amounts as positive values) Required: a1. What is the amount and character of Buckley's gains or losses for the current year? a2. Calculate Buckley's tax liability or tax savings for the year Complete this question by entering your answers in the tabs below Req a2 Req al Calculate Buckley's tax Eability or tax savings for the year