Mercer Industries Property Data Asset Cost Acquired Accumulated Depreciation Rack $166,400 10/10/17 $108,160 Bin $66,560...
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Mercer Industries Property Data Asset Cost Acquired Accumulated Depreciation Rack $166,400 10/10/17 $108,160 Bin $66,560 10/16/16 $33,280 Forklift $149,760 03/12/19 $49,920 Sold For Sold On $83 200 0/10/20 24,960 10/10/20 83,200 10/10/20 1. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Is any of the gainfloss due to $1245 recapture? 61231? 2. Assuming that Mercer has $16,640 non-recaptured net 91231 losses from prior years, analyze these transactions and determine the amount of any) that will be treated as a long-term capital gain Explain your
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