(Answered) Blue corporation sold machinery for 53000 on december 23

Accounting

Blue Corporation sold machinery for $53,000 on December 23, 2016. The machinery had been acquired on April 1, 2014, for $49,000. Its adjusted basis on December 23, 2016, was $32,000. Calculate the recognized gain. Calculate how much of the recognized gain is Section 1231 gain and how much is Section 1245 recapture gain

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