Question: I n 2 0 2 0 , Aimco bought a used private jet for $ 1 2 , 0 0 0 , 0 0 0

In2020, Aimco bought a used private jet for $12,000,000.At the beginning of2023 the Class 9 pool had a UCC of $9,000,000 and this asset was the only remaining property in the pool. Given the lack of inventory in the market, Aimco can sell the jet for $13,500,000 this year.
a. Determine if Aimco has any Capital gains on the sale and the balance in the pool after they sell the asset at the indicated selling price.
b. Indicate if they will have a Recapture or Terminal Loss.
c.If Aimco's tax rate is18%, what is the tax Savings or amount due as a result of the sale.

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