The LaPoint Corporation placed in service 8350,000 of used equip-ment (seven-year recovery property) on June 3, 2018 and elected to expense $250,000 as Sec. 179 depreciation expense but elected out of bonus depreciation. LaPoint sold the equipment for $150,000 on November 22, 2019. Determine the following:

a. Depreciation allowed in 2018

b. Depreciation allowed during 2019

c. Amount of gain or loss and character