Lester sold a warehouse and a forklift. The warehouse sold for $230,000. It had an original cost of $150,000 and


Lester sold a warehouse and a forklift. The warehouse sold for $230,000. It had an original cost of $150,000 and accumulated depreciation of $40,000. The forklift sold for $4,000. It had an original cost of $15,000 and accumulated depreciation of $14,000. Lester has $2,000 in unrecaptured Sec 1231 losses from last year. Assuming no other asset sales and that Lester’s taxable income is less than $400,000, Lester will be taxed on $ at marginal (ordinary) rate, $ at 25% and $ at 15%?


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