William sold Section 1245 property for $25,000 in 2020. The property cost $40,000 when it was purchased 5 years ago. The depreciation claimed on the property was $21,000.
a. Calculate the adjusted basis of the property. $_____________
b. Calculate the realized gain on the sale. $_____________
c. Calculate the amount of ordinary income under Section 1245.$_____________
d. Calculate the Section 1231 gain. $_____________