William had $22,000 of adjusted gross income before considering the effect of the transactions described below. Determine William's AG] and the amount of his deductions from AG]. William is the sole proprietor of a dry cleaning shop. El. Land adjacent to the store was purchased several years ago for an anticipated store expansion. It cost $10,000 and was sold this year for $25,000. Obsolete ve-year old dry cleaning equipment was sold for $8,000 during the year. It was fully depreciated. The equipment cost $55,000. Athree-year old delivery truck with an adjusted basis of $6,000 was sold for $17,000. It had cost $15,000. An electronic cash register purchased last year was sold it for $2,500 ten months after it was purchased. The adjusted basis was $3,000. William sold an apartment building he had owned for 13 years for $300,000. Original cost was $310,000; total accelerated depreciation on the building was $185,000. (Straight-line depreciation would have been $120,000.) The adjusted basis was $125,000. William sold GM stock [purchased in January of last year for $15,000) for $29,000 in December of this year. William sold Allied Chemical stock (purchased in September of this year for $32,000] for $30,000 in December of this year. Note: William has no unrecaptured 1231 losses from the prior 5 years