1. Which of the following items is a capital asset in the hands of the taxpayer?

   		a. Taxpayer owns a used car lot. The business owns a 1999 Honda Pilot that is for sale on the lot.
   		b. Taxpayer owns 300 shares of Walmart stock.
   		c. Taxpayer is a self-employed consultant and owns a notebook computer that he carries to his clients for work purposes.
   		d. Taxpayer, a self-employed architect, uses the cash basis method of accounting for tax purposes. He owns outstanding accounts receivable in the amount of $40,000.