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47-51. A business machine, which cost $10,000 two years ago, was sold on January 1, this year, for $19,000. Depreciation was as follows for the calendar-year taxpayer: Actual Depreciation Straight-line Would Allowed and Allowable Have Been Two years ago $1,429 $1,000 Last year 2,449 2,000 This year 875 500 $4,753 $3,500 The adjusted basis of the property sold is:

Group of answer choices

a. $5,247

b. $6,500

c. $10,000

d. None of the above

Question 48 Question 481.5 pts The gain realized and recognized on the sale is:

Group of answer choices

a. $9,000

b. $12,500

c. $13,753.

d. $19,000

e. None of the above

49 Question 491.5 pts The character or nature of the gain realized and recognized is:

Group of answer choices

a. All ordinary income

b. All capital gain

c. $4,753 ordinary income, $9,000 1231 capital gain

d. $3,500 ordinary income, $9,000 1231 capital gain

e. None of the above

Question 50 Question 501.5 pts Eighteen-year ACRS nonresidential real property owned by an individual has accumulated accelerated depreciation of $975,000 at January 1, of this year. This property is sold on January 1, this same year. The original cost of the property was $975,000. The sale price was $1,000,000. The amount of the realized and recognized gain is:

Group of answer choices

a. $60,000

b. $150,000

c. $175,000

d. $1,000,000

e. None of the above

Question 51 Question 511.5 pts The character or nature of the gain realized and recognized is:

Group of answer choices

a. All ordinary gain

b. $25,000 capital gain, $975,000 ordinary income

c. $105,000 capital gain, $70,000 ordinary income

d. all capital gain

e. None of the above

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