Problem $11-51($LO $11-5)($Static$)$

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Bourne Guitars, a corporation, reported a $$157,000$ net $$1231$ gain for year $6.$

blem $11-51$ Part$-$a $($Static$)$

suming Bourne reported $$50,000$ of nonrecaptured net $$1231$ losses during years $1-5,$ what amount of Bourne's net $$1231$ gain for $6,$ if any, is treated as ordinary income?

ourne's gain treated as ordinary income