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What is felix recognized gain on the sale

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Question - In 2010, Felix sold a piece of equipment from Felix's business for $225,000. The equipment was purchased in 2006 for $135,000. It had a useful life of five years and was depreciated on a straight-line basis. A total of $94,500 depreciation was taken (prior to the sale). What is Felix's recognized gain on the sale?

a. $0

b. $90,000

c. $94,500

d. $184,500

Refer to the facts stated in the prior question. What amount of the gain will be recaptured at ordinary income rates?

a. $0

b. $90,000

c. $94,500

d. $184,500

Reference no: EM131784078

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