Exercise 14-24 (Algorithmic) (LO. 2) Dexter owns a large tract of land and subdivides it for sale. Assume that Dexter meets all of the requirements of 51237 and during the tax year sells the first eight lots to eight different buyers for $116,200 each. Dexter's basis in each lot sold is $81,340, and he incurs total selling expenses of $4,648 on each sale. What is the amount of Dexter's capital gain and ordinary income? If required, round your answers to the nearest dollar. Dexter has a realized and recognized gain of $ , of which is classified as ordinary income and as a capital gain. Eliott has the following capital gain and loss transactions for 2022: After the capital gain and loss netting process, what is the amount and character of Elliott's gain or loss? Elliott has an overall! of \$ Lena is a sole proprietor. In April of this year, she sold equipment purchased four years ago for $51,800 with an adjusted basis of $31,080 for $34,188. Later in the year, Lena sold another plece of equipment purchased two years ago with an adjusted basis of $15,540 for $10,101. What are the tax consequences of these tax transactions? Lena has of $ from the sale of the first equipment. Lena has of 3 from the sale of the second equipment