Identify each of White Corporation's following assets as an ordinary, capital, or §1231 asset.
a. Two years ago, White used its excess cash to purchase a piece of land as an investment.
b. Two years ago, White purchased land and a warehouse. It uses these assets in its business.
c. Manufacturing machinery White purchased earlier this year.
d. Inventory White purchased 13 months ago, but is ready to be shipped to a customer.
e. Office equipment White has used in its business for the past three years.
f. 1,000 shares of stock in Black corporation that White purchased two years ago because it was a good investment.
g. Account receivable from a customer with terms 2/10 net 30.
h. Machinery White held for three years and then sold at a loss of $10,000.